The lender reduced its F1 two-year discount rate product by 25 basis points, which is now available at 4.19% at 75% LTV and 4.74% at 80% LTV.

It has also introduced new discount rates at 75% LTV for standard applicants, those seeking to purchase or refinance standard HMOs, and for short-term lets.

The new discounted product for F1 applicants — with an almost clean credit history — is priced at 4.19%.

Meanwhile, the discounted options for F2 and F3 applicants — which have some historic credit blips — are available at 4.64%.

In addition, Foundation reintroduced its F1 five-year fixed early remortgage product, which allows landlord borrowers to remortgage within six months of the initial purchase.

The option offers loans up to £1m at 75% LTV, with rates starting from 7.09%.

The new product range replaces the lender’s previous one, which was pulled back on Thursday (29th September).

The lender confirmed the withdrawn two-year fixed-rate mortgages will not be replaced.

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George Gee, managing director (commercial) at Foundation Home Loans, said: “Our decision to replace our BTL mortgage product range was not taken lightly, but in the context of what is happening within the markets right now, and in order to respond to that and to the changes made by our lender peer group, we needed to act.

“There is considerable pressure on lenders’ ability to provide shorter-term fixes right now and we have reluctantly made the decision not to replace these in the new range. 

“However, we have cut our discount product pricing which should provide a competitive option for those seeking two-year BTL mortgages.

“Our service remains at very high levels, which will allow us to work quickly on behalf of advisers over the next few days, and we want brokers to know we are here and ready to help them in order to get the best outcomes for their landlord clients.

“Foundation’s appetite to lend in the BTL space remains undimmed and we are introducing new discount rates, plus reintroducing our early remortgage offering in order to support advisers and their client’s activities during what is, undoubtedly, a somewhat uncertain mortgage environment. 

“We would urge advisers to contact Foundation Home Loans so that we can best support them and meet their requirements in the days ahead.”