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.
Residential Re-price
Foundation Home Loans will re-fresh its current Residential products on the morning of 21 June 2022 as follows:
- The re-price of its products
- Professionals range criteria update – Additional of 4 new professions:
- Chartered Tax Advisor
- Optometrist
- Radiographer
- Chiropodist
- The minimum age of 25 for professional products has been removed and is now 18 years as per standard criteria
- Professionals Product now available up to £1m at 75% LTV and up to £500K at 90% LTV
Bank Base rate 1.25% with resi discounts updated accordingly & BTL discounted products also updated in line with the BBR change
FOUNDATION HOME LOANS EXPANDS PROFESSIONAL RANGE WITH ENHANCED LIST OF ELIGIBLE PROFESSIONS, INCREASED MAXIMUM LOAN AND UP TO 90% LTV
As of Tuesday 21st June 2022, Foundation Home Loans have made several changes to their residential product professional range including:
- Broadening the list of eligible professions to now include Chartered Tax Advisers, Optometrists, Radiographers (diagnostic) and Chiropodists
- Removing the previous age restriction of 25 for eligible borrowers and reverting to the same minimum age as its standard residential mortgage range of 18
- Increasing their LTV to 90% for loans up to £500k
- Increasing the maximum loan to £1m to 75% LTV
The lender’s Professionals mortgage range allows first-time buyers, home movers and remortgagers in eligible professions to borrow up to six times their income.
You can find out more by checking out the latest product guide today.