Foundation Home Loans - Full refresh of residential mortgage range, cuts of up to 70bps - raised LTV bandings - and more of range open to first time buyers

Foundation Home Loans, the intermediary-only specialist lender, has today (15th June 2021) refreshed its residential product offering, reducing rates, increasing some loan to value bands and allowing first-time buyers to access more of the range.

Main changes to the Foundation residential proposition include:

  1. First time buyers can now access virtually all of the Foundation Home Loan residential range, including up to 90% LTV on the F1 tier (near mainstream credit) through to a limit of 75% LTV on the F3 tier.
  • Reprice across the entire range including selected fixed rates reduced by up to 70bps.
  • The Fee Assisted products, which are available on purchases and remortgages are now available up to 85% LTV and are accessible to more types of borrowers based on their credit history, and have a lower fee of £595 alongside their existing incentives of free valuation and no application fee  
  • Maximum LTV increased to 85% on discounted products (no early repayment charges)
  • New maximum LTV for the F2 credit tier (for borrowers with credit blips) will be 85% and for F3 (for borrowers with credit problems) will be 80%

Foundation mortgages are designed for owner-occupiers with complex income and employment, the recently self-employed and those looking to maximise their affordability with up to 100% of a wide range of income types.