As of Tuesday 11th October 2022, Foundation Home Loans has made changes to their Residential products for purchase and remortgage. The changes to the range include:
- NEW F1 2-year Special Edition Green ABC+ discount at 4.14% at 65% LTV with £1,495 fee and no ERCs
- NEW F2 2-year Special Edition Green ABC+ discount at 4.44% at 65% LTV with £1,495 fee and no ERCs
- Special Edition Green ABC+ discount products are available for properties with an EPC of A-C
- Refresh of full core residential range
George Gee, Managing Director (Commercial) at Foundation Home Loans, said:
“We feel these new residential products, our service excellence, plus the addition of two new Special Edition mortgages within our Green range, provides advisers and their clients who miss out on the
mainstream with a competitive offering and a credible mortgage choice.
“We are pleased to have been able to provide advisers with two working days’ notice in advance of this repricing, and we are also allowing a full additional seven days for our intermediary partners to convert their DIPs to full applications. Coupled with the fact we currently have very strong service levels allowing us to act quickly, should hopefully provide advisers with confidence in terms of their ability to get these cases through the process as quickly as possible.”
You can find out more by checking out the latest product guide today.
Reasons to use Foundation for your next specialist residential case:
Who for?
Self-employed – directors, partners and contractors; retained profits considered
- Employed – no minimum term in current job (minimum 3 months employed)
- Clients with multiple and unusual income sources
- Holders of credit blips / lower credit scores
- First time buyers
- Eligible Professionals looking for up to 6 x income
How much?
- Maximum loan £2m
- Maximum term 40 years
- Maximum age 75 at end of term
- No minimum income
- Maximum number of applicants is 4 (immediate family)
What for?
- Capital and repayment mortgages up to 90% LTV
- Interest only, affordability calculated on an interest-only basis up to 70% LTV
- Capital raising for buy to let purchase accepted
- A part and part mortgage up to 80% LTV