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.
PRODUCT WITHDRAWAL NOTICE
On Monday 24th October 2022 at 5:30pm we will be withdrawing all residential rates and replacing them with a new range on Tuesday 25th October 2022.
Any DIPs on the current products will need to be submitted by 5.30pm on Monday 24th October, which will secure the product for 3 working days until 5.30pm on Thursday 27th October 2022. The DIP must be converted to a full FMA and submitted before 5.30pm on Thursday 27th October.
DIPs relating to these current products which have not been converted to FMA and submitted by 5.30pm on Tuesday 27th 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.
FOUNDATION HOME LOANS LAUNCH NEW PRICING ACROSS RESIDENTIAL RANGE
As of today, Tuesday 25 th October, Foundation Home Loans have made changes to their residential
products for purchase and remortgage.
The new residential range includes:
- 2-year ERC-FREE Discounted variable rate residential products starting at 5.99%
- 2-year and 5-year Fixed rates across the F1-F4 tiers
- Fee-assisted 5-year fixed rates at 75% LTV
- Professionals and Residential Green products with free valuation
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
- Eligible Professionals looking for up to 6 x income
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
NEW buy to let Fixed and Discounted Variable products
As of today, Thursday 27th October, we have made changes to our buy to let products for purchase and remortgage.
The new buy to let range includes:
- 2-year ERC-free Discounted Variable rate buy to let products starting at 5.99%
- 5-year Fixed rates across the F1-F3 tiers
- 5 year fixed Green ABC+ with one free valuation and no application fee