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.
Solutions by Foundation: PRODUCT WITHDRAWAL NOTICE
We are withdrawing some product types at 5.30pm on Tuesday 8th October from the Solutions by Foundation product range, and moving them into the BTL by Foundation product range. The following products are effected:
• Large HMO
• MUFB
• Expat (excluding Mixed Use options)
This means that they will no longer be available on the Solutions portal, and will now be available on the BTL-by-Foundation portal from Wednesday 9th October with new and improved product options.
Your pipeline:
All submitted DIPs will be transferred over to the BTL portal. At this point, you can go back into your DIP and select one of the improved products from the BTL range. We will email all affected brokers on that day with full information.
Any partial unsubmitted DIPs on the above product types in the Solutions by Foundation portal at that point will be withdrawn.
Therefore, please proceed to submit your DIP before 5.30pm on Tuesday 8th October if you would like it carried over, or submit via the BTL portal from Wednesday 9th October in the BTL portal.
In summary, all existing active pipeline cases on MUFB, Large HMO, and relevant Ex-Pat products at DIP or beyond will be moved to our BTL Portal, but otherwise will be unaffected.
BTL By Foundation: HMO AND MUFB PRODUCTS ADDED
As of today, 9th October 2024, Foundation are excited to share some updates to their Buy-to-Let (BTL) offerings that will enable you to better serve your landlord clients and portfolio applications!
Foundation are thrilled to announce the inclusion of the following products in their BTL range:
· Multi-Unit freehold Blocks (MUFBs)
· Large Houses in Multiple Occupation (HMOs)
· Ex-Pat Products (with the exception of mixed use)
These additions mean you can now provide your clients with a more comprehensive selection of products, tailored to meet their unique needs.
These products are now available directly through the Buy-to-Let by Foundation online portal.
Not only that Foundation also have some new exciting products!
· NEW: F1 Expat 5 Year Fixed product up to 75% LTV and a 1.5% fee, with a rate of 5.99%
· NEW: F2 Holiday Lets Expat 5 Year Fixed product up to 75% LTV and a 2% fee, with a rate of 6.59%
· F1 5 Year Fixed Green Expat product up to 75% LTV and a 1.25% fee with no application fee and a free valuation, now with a rate of 5.99%
· F2 Expat Standard, HMO and MUFB 5 Year Fixed reduced by up to 0.50%, with rates now starting at 6.09%
· F2 Large HMOs 2 and 5 Year Fixed reduced by up to 0.40% with a 2% fee, rates now starting from 6.19%
· F2 MUFBs 2 and 5 Year Fixed reduced by up to 0.30% with a 2% fee, rates now starting from 5.99%
Residential and BTL by Foundation: PRODUCT WITHDRAWAL NOTICE
On Wednesday 9th October at 5:30pm, we will be withdrawing our Buy to Let and Residential Special products as well as two of our Buy to Let Limited Edition products.
The Residential products being withdrawn are:
- F1 Special fee assisted 2 Year Fixed, 6.19% at 65% LTV and 6.39% at 75% LTV with one free standard valuation and no application fee
- F1 Special fee assisted 5 Year Fixed, 5.94% at 65% LTV and 6.04% at 75% LTV with one free standard valuation and no application fee
- F2 Special fee assisted 2 Year Fixed, 6.39% at 65% LTV and 6.49% at 75% LTV with one free standard valuation and no application fee
- F2 Special fee assisted 5 Year Fixed, 6.14% at 65% LTV and 6.24% at 75% LTV with one free standard valuation and no application fee
The BTL products being withdrawn are:
- F1 Limited Edition 2 Year Fixed, 5.55% at 75% LTV
- F1 Limited Edition 5 Year Fixed Green EPCs A-C, 5.34% at 75% LTV
- F1 Portfolio Landlord Special 5 Year Fixed, 4.59% at 65% LTV and 4.69% at 75% LTV
- F1 Portfolio Landlord Special 5 Year Fixed, 4.84% at 65% LTV and 4.94% at 75% LTV with one free standard valuation and no application fee
- F1 Limited Company Special 2 Year Fixed, 4.24% at 65% LTV and 4.44% at 75% LTV with a 4% product fee
- F1 Limited Company Special 2 Year Fixed, 4.74% at 65% LTV and 4.94% at 75% LTV with a 3% product fee
- F2 Limited Company Standard HMO Special 2 Year Fixed, 4.79% at 65% LTV and 4.99% at 75% LTV
- F2 Limited Company Standard HMO Special 5 Year Fixed, 5.29% at 65% LTV and 5.39% at 75% LTV
Any DIPs on the current products will need to be submitted by 5.30pm on Wednesday 9th October which will secure the product for 2 working days until 5.30pm on Friday 11th October.
The DIP must be converted to a full FMA and submitted before 5.30pm on Friday 11th October.
DIPs relating to these current products which have not been converted to FMA and submitted by 5.30pm on Friday 11th October 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.