Foundation Update

Foundation Home Loans cuts product fees on Limited Company specials

Your landlord clients buying or remortgaging via a limited company vehicle can now access even more competitive products.

Foundation Home Loans has today reduced the product fees on their three ‘Limited Edition’ Limited Company buy to Let products.

Product details are now:

 F1 Limited Co BTL 2 year fixed 2.99% to 75% LTV with 0.75% Product Fee (was 1% fee)
 F2 Limited Co BTL HMO 2 year fixed 3.34% to 75% LTV with 0.75% Product (was 1% fee)
 F1 Limited Co BTL 5 year fixed 3.24% to 75% LTV with 1% Product Fee (was 1.5% fee)

These fee reductions make these products extremely competitive on a total cost basis whilst giving landlords access to generous loan amounts.

Foundation’s BTL fixed rates are designed to support landlords looking for a more generous loan for
their rent, as ICR is calculated using the pay rate with a 5-year fix or the notional rate of 5.5% for
shorter rates and stress tested at only 125% for Limited Companies.

 For loans between £200,000 and £1m and up to 75% LTV
 For portfolio and non-portfolio limited company applications
 No limit to the borrower’s background portfolio size, subject to a maximum of £3m with
Foundation

Key criteria:

• Generous ICR of 125%, including for HMOs
• Newly incorporated limited companies accepted
• No credit search for shareholders with less than 20% shareholding
• Switch to limited company application pre-offer

Who for?
• Up to 4 directors
• Newly incorporated limited companies
• Expats
• Complex company structures
• Limited companies using intercompany loans as deposits

• No minimum income for limited company applicants
• No maximum age for limited company applicants

How much?
• Loans of up to £1m
• No limit to portfolio size (subject to £3m with us)
• Minimum loan amount is £200,000

Foundation Product Guide Ltd Co. 050521

FOR INTERMEDIARIES ONLY