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.
BTL AND RESIDENTIAL BY FOUNDATION – PRODUCT WITHDRAWAL NOTICE
On Tuesday 21st May at 5:30pm we will be withdrawing selected Core BTL rates, and our BTL and Residential Special products to be replaced the next day.
Please note, the following products will not be replaced:
- F1 BTL 5 year fixed rate Specials, 5.84% at 65% LTV and 5.94% at 75% LTV with a 3% fee.
Any DIPs on the current products will need to be submitted by 5.30pm on Tuesday 21st May which will secure the product for 2 working days until 5.30pm on Thursday 23rd May.
The DIP must be converted to a full FMA and submitted before 5.30pm on Thursday 23rd May.
DIPs relating to these current products which have not been converted to FMA and submitted by 5.30pm on Thursday 23rd May 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.
RESIDENTIAL BY FOUNDATION – OUT NOW: JOINT BORROWER SOLE PROPRIETOR (JBSP) MORTGAGES
As of today, Tuesday 21st May, Foundation Home Loans are pleased to announce that they now offer Joint Borrower Sole Proprietor (JBSP) mortgages – a set of mortgage products for cases with multiple applicants on the mortgage, but fewer on the property deeds. JBSP mortgages are for cases where multiple applicants (up to 4) are named on a mortgage (normally for affordability reasons) but not all of them (maximum 2) are on the property title.
NEW PRODUCTS
- F1 2- and 5- year fixed products available up to 85% LTV with a £795 fee and rates starting from 6.29%
- F2 2- and 5- year fixed products available up to 80% LTV with a £795 fee and rates starting from 6.39%
Why use Residential by Foundation for JBSP mortgages?
- Up to 4 incomes used and up to 2 names on property title
- All applicants on mortgage deed
- Wide range of family permitted
- Lending into retirement permitted for occupiers and non-occupiers
- F1 and F2 Credit tiers
- Purchase and remortgage
- C&I, I/O and part & part acceptable
- Up to 4.49 x joint income
- 100% gifted deposit acceptable
- Maximum of 2 households (4 applicants) 1 or 2 occupiers of the security and 1 or 2 non-occupiers from one household
[Have a case to discuss? Contact us today!]
Residential and BTL by Foundation – New Products
We have today, Wednesday 22nd May, reduced rates on a number of products in our core BTL range by up to 0.50%, as well as reducing our BTL and Residential Specials, and we have added a new Portfolio-only BTL Special.
Buy to Let – Specials and Core Refresh
- F1 and F2 5 Year Fixed Core rates reduced by up to 0.50% with rates now starting from 5.74%.
- Special Portfolio Landlord Only 5 Year Fixed rate up to 75% LTV with a 6% fee with rates starting from 4.99%
- F1 Special Portfolio Landlord product 5 Year Fixed with a 5% fee and rates starting from 5.19%
- F1 Specials 2 Year Fixed rates reduced by 0.15% with rates starting from 5.34%
- F2 Special HMO 2- and 5- Year fixed rates with rates starting from 5.39%
Residential – Specials
- Special Fee Assisted F1 and F2 2- and 5- Year Fixed rates reduced by 0.10%, with a £795 fee and rates now starting from 6.44%