The new product is part of its F1 product range for borrowers with an almost clean credit history, and is available for both limited company and individual landlords looking to purchase or remortgage.

It offers loans up to £1m at maximum 75% LTV, priced at 4.59% with an ICR of 125% at pay-rate for limited companies.

The summer special five-year fix — which comes with no application fees — also includes one free standard valuation and a 2% product fee.

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George Gee, commercial managing director at Foundation Home Loans, said: “This summer special represents a highly competitive option for our intermediary partners, and is designed to offer value to a wide range of landlord clients.

“It also reaffirms our ongoing commitment to providing a range of solutions and service timings which ensure that borrowers and advisers can access the products they need, delivered in a timescale which we know is not typical in the current mortgage space.

“We are pleased to be able to support our intermediary partners with rate reductions, coupled with a compelling service proposition offering clients the benefit of great products delivered in a timely fashion.”