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.
FOUNDATION HOME LOANS – FEE ASSISTED PRODUCTS FOR STANDARD HMOS – PLUS REFRESHED F1 – F2 CORE BTL PRODUCTS
As of today, Thursday 29th February, Foundation Home Loans have launched new Fee Assisted products for standard HMOS, and new rates across selected BTL F1 and F2 products.
Buy to Let by Foundation:
- New F2 Standard HMO fee assisted 2 and 5 year fixed rates up to 75% LTV with a 1.25% fee, one free standard valuation and no application fee, rates starting from 6.39%
- F1 and F2 5 year Green fixed rates now starting 5.99% at 75% LTV
- F1 2- and 5- year fixed rates with rates now starting from 5.94%
The existing Specials rates remain.
Check out the latest product guides today.
PRODUCT WITHDRAWAL NOTICE
On Wednesday 6th March at 5:30pm we will be withdrawing the majority of our Buy to Let range to be replaced the following day with the exception of our Large Loan 2 year and Large Loan HMO 5 year fixed products, which will not be replaced.
Our range of Special Buy to Let products remains unchanged
Any DIPs on the current products will need to be submitted by 5.30pm on Wednesday 6th March which will secure the product for 3 working days until 5.30pm on Monday 11th March.
The DIP must be converted to a full FMA and submitted before 5.30pm on Monday 11th March.
DIPs relating to these current products which have not been converted to FMA and submitted by 5.30pm on Monday 11th March will no longer be valid.
All Application fees and Valuation fees must be paid within 3 working days of the submission of a Full Mortgage Application.
FMAs which do not have their Application fee or Valuation fee paid by 5.30pm on the 3rd working day after submission, will no longer be valid.
Please convert existing DIPs to a full mortgage application as soon as possible.
Please convert existing DIPs to a full mortgage application as soon as possible.
NEW HMO PRODUCTS FOR FIRST TIME LANDLORDS – PLUS REFRESHED CORE BTL PRODUCTS
As of today, Thursday 7th March, Foundation Home Loans have introduced products to enable first time landlords to purchase standard HMOs within the Buy to Let by Foundation product range, and new rates across all BTL products.
Buy to Let by Foundation:
- NEW F2 2- and 5- year standard HMO (up to 6 occupants) for first time landlords up to 75% LTV with a 2% fee with rates starting from 6.49%
- ‘Standard’ HMOs – up to 6 occupants
- Maximum loan to value 75% to £1.5m
- No minimum income requirement for the First Time Landlord
- We require that landlords must have their own residential mortgage, but no other BTL mortgages are required
- Standard HMOs do not require a commercial valuation
- Please see the Buy to Let by Foundation product guide for more details
Buy to Let by Foundation – other refreshed products
- F1 2- and 5- Year Fixed products with rates now starting from 6.14%
- F2 Short Term Lets and Holiday Lets products rates now starting from 6.44%
- F2 Large Portfolio 2- and 5- Year products with rates now starting from 6.49%