Foundation adds 90% LTV products

The lender has added two 90% LTV fee-assisted products for residential borrowers, with no application fee, no product fee and one free valuation.

Foundation adds 90% LTV products

Foundation Home Loans has added to its owner-occupied proposition with 90% loan-to-value (LTV) fee-assisted fixed rates, as well as two additional products for its recently launched Professionals range.

 

The lender has added two 90% LTV fee-assisted products for residential borrowers, with no application fee, no product fee and one free valuation, fixed for 2-years at 4.74% and at 4.94% for 5-years.

Foundation is also adding 5-year fixed-rate options at 3.39% (75% LTV) and 3.99% (85% LTV) to its Professionals range, which allows first-time buyers, home movers and remortgagers in eligible professions to borrow up to six times their income.

These products come with a £1,495 product fee, one standard valuation, and are available on a capital and interest repayment-only basis.

George Gee, commercial director at Foundation Home Loans, said: “As always at Foundation we want to respond to feedback from our intermediary partners and provide product options to support them in areas of the market relevant to their current client demand.

“These new fee-assisted residential products at 90% LTV will help those owner-occupier borrowers who want to benefit from lower upfront costs and who are looking for a higher LTV product over either a 2- or 5-year term.

“Plus, the recent launch of our new Professionals product range last month has been warmly welcomed and we are now able to offer new 5-year fixed-rate product options at both 75% and 85% LTV that will provide greater mortgage payment security over the longer term for these borrowers.

“At the same time, eligible professional borrowers, who meet the criteria will also benefit greatly from the enhanced income multiples available with the range allowing them to secure the loan size they require.”

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