THE PROPERTY FILTER TAKE
Three lenders repriced their buy-to-let mortgage ranges inside a single week, and Foundation's replacement products came back at higher rates.
Two Foundation products were pulled with nothing put in their place: the F2 MUFB five-year fixed at 6.34% and the F2 Holiday Let five-year fixed at 6.44%, both with a £4,995 fee.
Consider speaking to your broker about any Foundation application filed on 17 September: its three-working-day fee clock runs out at 5.30pm on Tuesday 22 September. Aldermore decisions in principle hold their product for 30 days.
Three lenders repriced their buy-to-let (BTL) mortgage rates inside a single week. The cut-offs to secure the old pricing have passed, but two deadlines attached to cases already in the system are still running. Aldermore withdrew and repriced rates across its residential and buy-to-let ranges at 5pm on Wednesday 16 September. Foundation pulled most of its buy-to-let range at 5.30pm the next day, Thursday 17 September. Higher-rate replacements followed the day after (Mortgage Strategy, 16 September 2026).
What changed across the three lender ranges?
Aldermore's move covered residential and buy-to-let, so this was not a buy-to-let-only reprice. The lender urged brokers to submit decisions in principle (a DIP is a lender's initial indication of how much it will lend) ahead of the 5pm cut-off. Aldermore confirmed a DIP stays valid for 30 days and holds the product even if it is later withdrawn (Mortgage Strategy, 16 September 2026).
Aldermore also reminded brokers that a case should generally not be converted to a full application until it is fully packaged. Once converted, brokers have 10 days to provide the required supporting documents. Packaging discipline of that kind sits next to a realistic view of affordability. Our free stress test calculator shows what a lender's rental cover test does to the maximum loan.
Foundation withdrew the majority of products across its buy-to-let range, with higher-rate replacements introduced the following day. No rate was given for those replacements (Mortgage Strategy, 16 September 2026). Intermediaries holding a DIP on an affected product had to convert it to a full mortgage application (FMA) and submit before the deadline. Foundation also said application and valuation fees must be paid within three working days of an FMA being submitted. An application with either fee unpaid by 5.30pm on that third working day becomes invalid.
The Mortgage Works made selected rate increases and reductions across its new business and switcher ranges from Thursday 17 September. Both directions, not only rises. New business fixed rates start from 3.49% and tracker rates start from 3.99%. The lender said all trackers include a switch-to-fix option (the ability to move the loan onto a fixed rate later). Those two figures are floors across the new business range, not typical buy-to-let pricing.
Which buy-to-let products disappeared without a replacement?
Two Foundation products went and did not come back. The F2 MUFB five-year fixed at 6.34%, with a £4,995 fee, was withdrawn without replacement. So was the F2 Holiday Let five-year fixed at 6.44%, also carrying a £4,995 fee (Mortgage Strategy, 16 September 2026). MUFB means multi-unit freehold block: a building of several self-contained units under a single freehold title.
That is the detail worth pausing on. These two were not repriced, they were removed. When a model depends on a niche product, the risk is not only the rate moving. It is the product line closing. More on that trade-off sits in our property investment strategies hub.
CHL Mortgages and Moda Mortgages were also set to withdraw their current mortgage product ranges on 16 September (Mortgage Strategy, 16 September 2026). That puts five lenders into the same few days.
Which deadlines are still open after the repricing wave?
The windows to secure the old rate cards shut on Wednesday 16 and Thursday 17 September (Mortgage Strategy, 16 September 2026). Two clocks are still running. Foundation requires application and valuation fees within three working days of an FMA being submitted. By our count, an application filed on Thursday 17 September itself reaches its third working day on Tuesday 22 September. Anything converted earlier in the week reaches its own third working day sooner. Unpaid by 5.30pm on that third day, it falls away. An Aldermore DIP holds the product for 30 days from submission, so one filed just before the 5pm cut-off on Wednesday 16 September runs to around 16 October.
Here's the angle. The market is resetting product by product, not in one line. Any deal appraised before mid-September sits on stale finance numbers, and its margin is an assumption until a broker re-quotes it. Re-appraising against today's inputs is what our deal sourcing software is built for.
The fee is worth watching too. Both withdrawn Foundation products carried a £4,995 fee, a real part of what a loan costs. Our guides on mortgages, brokers and negotiation cover how lenders price those costs in.
Key takeaways
Foundation withdrew the majority of its buy-to-let range at 5.30pm on Thursday 17 September and introduced higher-rate replacements the following day.
Two Foundation products went without replacement: the F2 MUFB five-year fixed at 6.34% and the F2 Holiday Let five-year fixed at 6.44%, each with a £4,995 fee.
Aldermore repriced across its residential and buy-to-let ranges at 5pm on Wednesday 16 September, and its DIPs stay valid for 30 days and hold the product.
The Mortgage Works made increases and reductions from 17 September, with new business fixed rates starting from 3.49% and trackers from 3.99%.
Five lenders moved their ranges in the same few days, with CHL Mortgages and Moda Mortgages also set to withdraw their current ranges on 16 September.
Frequently asked questions
I have a buy-to-let case in progress. Have all the deadlines passed?
What replaced Foundation's withdrawn buy-to-let products?
What is an MUFB?
How long does an Aldermore decision in principle hold a rate?
