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 25th September 2023 at 5:30pm we will be withdrawing our Owner-Occupied core range products and also our BTL Limited Edition 6.69% 5 year fixed rate, to be replaced the following day.
Any DIPs on the current products will need to be submitted by 5.30pm on Monday 25th September 2023, which will secure the product for 3 working days until 5.30pm on Thursday 28th September 2023.
The DIP must be converted to a full FMA and submitted before 5.30pm on Thursday 28th September 2023
DIPs relating to the current product which have not been converted to FMA and submitted by 5.30pm on Thursday 28th September 2023 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 note that our broker portal will be down from 5:30pm on Monday 25th September 2023 in order to process this change, it will be available again the following morning.
Please convert existing DIPs to a full mortgage application as soon as possible.
Our Residential rates are reducing
Following the positive news last week around inflation, Bank of England Base Rate, Swap Rates and Foundation launching our new Buy to Let Range we are delighted to announce some further positive changes coming tomorrow.
Rates are reducing on our Residential Core Range, alongside a Brand New Remortgage Only & Fee Assisted Products.
- Remortgage Only, F1 range only, £1,295 product fee, free valuation & £500 Cashback.
- Special Products, F1 & F2 range only No application fee, free valuation and reduced product fee of £795.
What type of clients can we consider?
- Debt Consolidation, up to 85%. No Debt to Income Ratio and any debts to be repaid are disregarded from affordability.
- Capital Raising for Home Improvement, Purchase of Investment Property and many many more.
- Complex & Mulitple Incomes, employed, self-employed, looking to use latest years figures, Lodger Income, Foster Income and a lot of other income sources please do get in touch,
- Interest Only, 70% LTV 80% if part & part, calculated on interest only for affordability, No minimum income and can go to age 75
- Foreign nationals.
When you combine the rates, criteria and our flexible/manual approach to underwriting, adding in our fabulous service standards plus the ability to speak to the case underwriter, there is no reason to not place your business with Foundation Home Loans.
NEW OWNER OCCUPIED AND BUY TO LET RATES
As of today, Tuesday 26th September, Foundation Home Loans have reduced selected rates through all tiers of their owner occupied range and launched new Limited Edition Buy to Let products.
Foundation’s current service levels continue to average turnaround times of one day for DIP referral, application and underwriter review for all cases.
New Owner Occupied rates include:
- Core F1 rates reduced by up to 0.70% now starting from 6.89%
- New F1 remortgage-only products with one standard free valuation, £500 cashback and £1,295 fee – rates starting from 7.09%
- F2 rates reduced by up to 0.45% now starting from 7.19%
- F3 and F4 rates reduced by up to 0.55% now starting from 7.39%
- F1 and F2 Specials with a free valuation and £795 fee starting from 7.09%
Buy to Let F1 Limited Editions
- 5 year fixed rate reduced by 0.15% now at 6.54%
- New 2 year fixed rate at 6.99% to 75% LTV with a £1,495 fee