Foundation Home Loans introduces new residential products at 85% LTV and cuts selected 80% LTV rates

09 February 2021

Foundation Home Loans, the intermediary-only specialist lender, has today (9th February 2021) cut rates on many of its 80% LTV residential products and introduced two new 85% LTV products.

The Foundation Home Loans residential range is designed to meet the needs of borrowers with complex income and employment such as the recently self-employed and those looking to optimise their affordability with up to 100% of a wide range of income.

Foundation is launching two new 85% LTV standard residential products with a two-year fix priced at 4.34% and a five-year fix priced at 4.69%, both with a fee of £995.

Additionally, existing 80% LTV product rates in its near-mainstream range for both standard and first-time buyer clients have been cut. These cover the following:

Two-year fix cut from 3.79% to 3.64% and five-year fix cut from 4.29% to 4.04% with a £995 fee
Two-year 1.55% discount now with a current rate of 3.54%, down from 3.69% with a £995 fee
First-time buyers only: two-year fix cut from 3.89% to 3.79% and five-year fix cut from 4.39% to 4.19%, both with a £595 fee

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

“There is undoubtedly a growing demand in the residential space, and Foundation is looking to meet this demand with keen pricing on our near-mainstream 80% LTV rates, and the introduction of two new options at 85% LTV. With 2020 having a significant impact on many individuals’ income and the financial situation of many existing borrowers, we anticipate an increased number of clients will require specialist residential finance. Our full, highly-competitive, residential range is available to both purchasers and remortgagors who do not meet stricter mainstream mortgage criteria and individuals who have historical credit blips.”

For more information on Foundation Home Loans, please visit: www.foundationforintermediaries.co.uk