Brilliant Solutions

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. 

Foundation Home Loans launches Limited Edition ‘No fee’ owner-occupied remortgages and BTL flat-fee mortgages

As of today, Thursday 9th September, Foundation Home Loans have added new Limited Edition two-year and five-year fixed rate products to both their owner-occupied and buy-to-let mortgage ranges.

The ‘no-fee’ owner-occupied rates are for remortgage only and have no product fee, no application fee and come with one free standard valuation.

Owner-Occupied

  • For Re-mortgages
  • ‘No fee’: no product fee, free standard valuation and no application fee
  • 2-year fixed rate 3.19%
  • 5-year fixed rate 3.49%
  • Up to 75% LTV
  • Available on capital and interest only
  • Minimum £200k loan size

The buy-to-let products can be used for purchases as well as remortgages, and with the flat product fee of £1,995 are highly competitive on ‘total cost’ and particularly to landlords with larger loan amounts.

Buy to Let

  • For Purchases and Re-mortgages
  • Flat product fee of £1,995  
  • 2-year fixed rate 2.94%
  • 5-year fixed rate 3.14%
  • Up to 75% LTV
  • Available to Individual landlords and Limited Company

‘Fee-free’ and ‘No fee’ in this case means no product fee, no application fee and one free valuation – however please ensure your client is aware that there are always other possible fees that will be incurred as part of a property purchase/remortgage.

Why use Foundation for your next BTL case?

  • Individual or limited company
  • Limited companies with complex structures
  • Up to 4 directors
  • Newly incorporated limited companies acceptable
  • ICR of 125% for limited company borrowers and basic rate taxpayers and 145% for others
  • No minimum term of employment/self-employment and no minimum income
  • Up to 80% LTV on core range
  • Loans up to £2m on core range
  • No limit to portfolio size, subject to max borrowing of £5m with Foundation
  • Cater for specialist properties such as HMOs, short term lets and Multi Unit Blocks
  • HMOs range: up to 8 bedrooms and MUBs: up to 10 units
  • Products for first time landlords
  • Ex-pats considered for limited companies only
  • Green Mortgages available for purchase and remortgage

Why use Foundation for your next specialist residential case? 

  • 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
  • Lower credit scores
  • First time buyers
  • No minimum income
  • Maximum loan £2m
  • Maximum term 40 years and maximum age 75 at end of term
  • Maximum number of applicants is 4 (immediate family)
  • Capital and interest repayment mortgages up to 90% LTV
  • Capital raising for buy to let purchase accepted
  • Part and part up to 80% LTV

Residential Product Guide

Buy to Let for Individuals Product Guide

Buy to Let for Limited Companies Product Guide

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