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:

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.

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