Brilliant Solutions

The internet is down in our Head Office.  Staff continue to answer the phone and respond to messages but understandably response times and service standards are affected.  Please contact your Relationship Manager directly if you have any urgent issues.  Thank you.

Our office will be closed from 5pm Thursday, 20th October to 9am Friday, 21st October.
If you have any cases or enquiries that this may affect, please contact our team today. We apologise for any inconvenience.

We are currently experiencing some technical issues that are affecting our telephone lines and internet connection.

We hope to resolve this asap. Apologies for the inconvenience.

 

In honour of Her Majesty Queen Elizabeth II our offices will be closed on Monday 19th September while our staff pay their respects.

The office will re-open at 9am on Tuesday 20th September.

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 REFRESHES ENTIRE PRODUCT RANGE

Foundation Home Loans has, today, announced a full reprice of both their buy-to-let and residential core ranges that includes improved rates, competitive product features and greater customer value.

Of particular focus are customers with more complex scenarios that warrant a specialist solution, with these proposed new options providing the customer with clear mortgage choices.

The product changes come along with the news that Foundation is now also lending in Scotland.

In the Residential range, changes include:

  1. Rate reductions of up to 0.55% on Foundation’s Green residential products at 85% LTV with
    a new £995 fee
  2. New Discounted options in the F1 and F2 ranges with a £1,495 fee which now include one
    free standard valuation
  3. New Fee Assisted options and selected price reductions in the F1 and F2 ranges. Both credit
    tiers introducing a reduced fee option of £195 (a reduction of £400) giving customers the
    choice of a product with a lower upfront cost
  4. Selected rate reductions across the F2 credit tier offering greater value for money.
  5. Rate reductions across the F3 range

In the Buy to Let range, changes include:

  1. New rate and fee options at the 5-year fix 75% price point with a flat £1,495 fee which offers
    a particularly competitive price option for larger loans up to 75% LTV
  2. An additional large loan 5-year fixed rate with a flat fee of £3,995 available to 65% LTV
  3. A reduced 5-year fixed rate on the 2% fee large loan rate
  4. Cuts to HMO rates by up to 0.20%

Cuts to Short Term Let rates by up to 0.30%
The changes have been designed to support intermediaries in making a strong start to 2022.

NEW RATE GUIDES

Reasons to use Foundation for your next specialist residential case:

Who 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
  • Holders of credit blips / lower credit scores
  • First time buyers

How much?

  • Maximum loan £2m
  • Maximum term 40 years
  • Maximum age 75 at end of term
  • No minimum income
  • Maximum number of applicants is 4 (immediate family)

What for?

  • Capital and repayment mortgages up to 90% LTV
  • Interest only, affordability calculated on an interest only
    basis up to 70% LTV
  • Capital raising for buy to let purchase accepted
  • A part and part mortgage up to 80% LTV

Why use Foundation for your next BTL case?

Who for?

  • Individual or limited company
  • Limited companies with complex structures
  • Up to 4 directors
  •  Newly incorporated limited companies acceptable
  • No minimum term of employment/self-employment and no minimum income
  • Products for first time landlords
  • Ex-pats considered for limited companies only

How much?

  • Up to 80% LTV on core range
  • Loans up to £2m on core range
  • ICR of 125% for limited company borrowers and basic rate taxpayers and 145% for
    others
  • No limit to portfolio size, subject to maximum borrowing of £5m with Foundation

What for?

  • Specialist properties such as HMOs, short term lets and Multi Unit Blocks
  • HMOs: up to 8 bedrooms and MUBs: up to 10 units
  • Green Mortgages available for purchase and remortgage
Foundation Home Loans is now lending in Scotland

Foundation Home Loans are pleased to announce the expansion of their mortgage offering to borrowers purchasing or remortgaging properties in Scotland.

The Foundation product range can be accessed by mortgage intermediaries in through Foundation Home Loans’ existing panel of Clubs, Networks and Packagers.

As one of the leading specialist lenders, Foundation offers a broad range of residential and buy to let criteria supporting borrowers with more complex needs, and provides product choices for intermediaries with solutions for both the employed & self-employed, professionals, individual and limited company landlords and those seeking “greener” options.

The lender has also appointed a new, dedicated Regional Account Manager, Fiona Robertson, who will be covering Scotland and the North East regions.

George Gee, Commercial Director at Foundation Home Loans, said:

“We are very pleased to be announcing our launch into Scotland today, kicking off the new year by expanding our geographic distribution, and welcoming the mortgage intermediaries who are active in Scotland to access our ranges of specialist owner occupied and buy-to-let mortgages for their clients. 

“This is an exciting time for Foundation and we’re looking forward to building new relationships in Scotland, engaging with all stakeholders and providing greater product and criteria options for borrowers.

Product refresh – Foundation Home Loans

As previously advised, Foundation Home Loans will withdraw all its current BTL, Limited Company and Owner Occupier products at 17:30 on Friday 21 January 2022.

There will be no access to the portal until 6.00am Monday 24th January when refreshed products will be launched.

The new products attached over two tabs for Owner Occupier and BTL/LLC.

As part of this refresh, we will also update our criteria to accept applications on Scottish properties. The eligible postcodes are listed below:

  • AB 10-16, 21-25, 30-39, 41-45, 51-56 & 99
  • DD 1-11
  • EH 1-49, 51-55, 95 & 99
  • FK 1-21
  • G 1-5, 9, 11-15, 20-23, 31-34, 40-46, 51-53, 58, 60-79, 81-84 & 90
  • IV 1-4 & 5-18
  • KY 1-16 & 99
  • ML 1-12
  • PA 1-19
  • PH 1-26, 32-35 & 49-50
  • TD 1-15
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