On the morning of the 20th October 2022, Foundation Home Loans will:
Withdrawal of all 124 Foundation Home Loan products (74 BTL & 50 OO)
Relaunch of 83 of the 124 products (38 BTL & 45 OO)
An update to the BTL Affordability rate as follows:
- 5 year rates = pay rate
- 2 year rates = higher of:
- pay rate + 2%
- notional rate of 5.5%
- Revert of 4.99% + BBR
The maximum loan per LTV tier on BTL has also been updated as follows:
- 65% LTV: from £1.5m to £2m
- 75% LTV: from £1m to £1.5m
- 80% LTV: from £500k to £750k
- 85% LTV: No change, remains at £500k
- Currently 75% LTV product available for BTL