Foundation Home Loans refreshes buy-to-let and owner-occupied core ranges plus launches new remortgage-only BTL products with cashback

25 August 2023

Foundation Home Loans, the intermediary-only specialist lender, has today announced a refresh of both its core buy-to-let and owner-occupied product ranges, plus the launch of new remortgage-only buy-to-let products, available with cashback.

The new buy-to-let remortgage-only products are available within Foundation’s F1 – for clients with an almost clean credit history – and F2 – for clients financing a more specialist property type and/or those with some historical blips on their credit rating – tiers.

Products included within the new remortgage-only range cover F1 five-year fixed-rates, available up to 80% LTV with rates starting from 7.29%, and F2 five-year fixed-rates, available up to 75% LTV, with rates starting from 7.44%.

The remortgage-only products come with a £1,295 fixed fee, a free standard valuation, no application fee and £500 cashback.

As well as refreshing owner-occupied product rates, Foundation has announced all products which are part of its Professionals mortgage range – which allows first-time buyers, home movers and remortgagers in eligible professions to borrow up to six times their income – now come with one free standard valuation.

The lender defines a Professional as someone currently practicing and holding a relevant qualification, and its list of eligible professions also includes Accounting, Actuarial, Medical, Legal, Surveying, Architecture and Engineering, amongst others.

Foundation’s current service levels continue to average turnaround times of one day for DIP referral, application and underwriter review for all cases.

Tom Jacob, Director of Product and Marketing at Foundation Home Loans, said:
“Remortgage activity remains a very strong source of business for advisers and, within buy-to-let in particular, we wanted to acknowledge this by launching specific remo-only products, that come with a number of added extras, including a low product fee, but also free valuations and cashback to help landlord borrowers.

“At the same time, we’re also refreshing both our buy-to-let and owner-occupied product ranges, and supporting our Professionals borrowers by introducing a free valuation on these products, which have proved very popular offering higher income multiples.

“Our products are there to support as wide an array of specialist mortgage borrowers as possible, and we’ll continue to look at opportunities within both our buy-to-let and owner-occupied ranges, in order to keep adding product choice and ensuring borrowers have access to the finance they need.”

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