Brilliant Solutions

The internet is down in our Head Office.  Staff continue to answer the phone and respond to messages but understandably response times and service standards are affected.  Please contact your Relationship Manager directly if you have any urgent issues.  Thank you.

Our office will be closed from 5pm Thursday, 20th October to 9am Friday, 21st October.
If you have any cases or enquiries that this may affect, please contact our team today. We apologise for any inconvenience.

We are currently experiencing some technical issues that are affecting our telephone lines and internet connection.

We hope to resolve this asap. Apologies for the inconvenience.

 

In honour of Her Majesty Queen Elizabeth II our offices will be closed on Monday 19th September while our staff pay their respects.

The office will re-open at 9am on Tuesday 20th September.

Foundation Update

Foundation Home Loans has updated its range across the direct to lender and packaged range.  Brilliant Solutions offers fees free packaging across the range as well as direct to lender access with payment on completion. 

Green products for HMOs and Short Term Lets

We have introduced a new range of Green buy to let mortgage products for landlords looking to purchase or remortgage a specialist property that has an EPC rating of  A-C including short term lets and standard HMO (up to 6 occupants).

The new product range has a reduced product fee of 0.75% and is available up to 75% LTV, and also benefits from a tiered cashback upon completion of up to £750. Read more about the range here

  • ABC+ Green HMO (up to 6 occupants) F2 5-Year fixed rates starting from 3.44%
  • ABC+ Green Short term let F2 5-Year fixed rates starting from 3.94%
  • Up to 75% LTV
  • Cashback upon completion of up to £750*
  • Reduced product fee of 0.75%

*for properties with an EPC rating of ‘C’ or above.

Download the product guide.

EXPANDED PANEL OF SOLICITORS FOR SPECIALIST PROPERTY CASES

As of 30 th March 2022, Foundation Home Loans have expanded their closed panel of solicitors to transact all specialist property cases. For all specialist properties, including HMOs, large HMOs and multi-unit properties, brokers can now choose from a wider panel of legal firms with specific expertise in specialist property purchases and remortgages.

  • For HMO and multi-unit properties, brokers are now free to choose a firm from Foundation’s closed panel list to act on Foundation’s behalf, and dual representation is accepted (except in Scotland).
  • The Specialist Property closed panel is a smaller, closed panel within Foundation’s main solicitor panel which is managed by ULS, and consists of eight legal firms with branches across England, Wales and Scotland.
  • The new panel can be found at https://www.foundationforintermediaries.co.uk/media/2696/foundation-home-loans-
    solicitors-panel-closed-panel.pdf
  • The panel is also available where an applicant’s solicitor does not meet the solicitor requirements of the lender.
  • Changes to the broker portal are live from Wednesday 30th March 2022, allowing intermediaries to select one of the new solicitors, on new HMO or Multi-unit DIP or full mortgage applications.
  • In the last month, Foundation Home Loans has launched both Green and Expat specialist property products ranges, and earlier this week, Foundation Home Loans launched a new Limited Edition ‘Fee assisted’ product for standard HMOs and Short term lets which comes with one free valuation, no application fee and a product fee of only £495.

For more information, please contact us.

Why use Foundation for your next BTL case?

Who for?

  • Experts in individual or limited company applications
  • Up to 4 directors & no personal guarantees needed for shareholders
  • Limited companies/SPV with complex structures
  • Shareholding can include other companies
  • Newly formed SPV’s and flexible deposit sources including Intercompany loans
  • No min income or employment/self-employment history
  • First time landlords considered
  • Ex-pats considered as individuals or limited companies

How much?

  • Up to 85% LTV Loans up to 2m (on core range)
  • ICR of 125% for limited company borrowers and basic rate taxpayers
  • No limit to portfolio size, subject to maximum borrowing of £5m with Foundation
  • Portfolio in the background stress tested at 100%

What for?

  • HMOs: standard to 6 bedrooms, large up to 8 bedrooms and MUBs: up to 10 units
  • Short term lets in personal or SPV structures
  • Day 1 remortgages
  • Products without ERCs
  • Range of Green Products for properties with EPC rating A-C
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