Foundation Home Loans refreshes resi range

The changes mean first-time buyers can now access up to 90% loan-to-value (LTV) on the F1 product.

Foundation Home Loans refreshes resi range

Foundation Home Loans has refreshed its residential product offering, which will allow first-time buyers to access more of the range.


The changes mean first-time buyers can now access up to 90% loan-to-value (LTV) on the F1 product.

The lender has also extended the maximum LTVs across both its F2 and F3 ranges with a new maximum LTV of 85% for F2 and 80% for F3.

Changes have been made across all areas of the range, with some rates lowered by up to 70 basis points.

Within the F1 range, the 90% LTV 5-year fix has been lowered to 4.99% from 5.19%; this deal does not include a product fee.

Within the same range, 5-year fixed rates with a £995 fee start from 3.24%, from 3.39%, and the 2-year discount with no early repayment charges has been opened up to 85% LTV borrowers with a rate of 3.89%, as well as options at 65%, 75% and 80% LTV.

There has also been cuts by up to 50 basis points on Foundation’s Green Reward Remortgage products, which provide £750 cashback and a reduced product fee for those borrowers with properties at an Energy Performance Certificate (EPC) rating level of C and above.

Looking to the F2 range, for borrowers with credit blips, pricing has been cut across its fixed rates and variable rates, including a cut of 70 basis points for its 80% LTV 5-year fix which is now 3.89%, down from 4.59%.

Within the F3 range, 80% LTV products at 4.29% fixed for 2-years and 4.49% fixed for five-years, have been added.

George Gee, commercial director at Foundation Home Loans, said: “Today we’re announcing a major refresh of our residential product range with price cuts across many existing products, the introduction of higher LTVs, specific new products across all our F1, F2 and F3 sectors, and a major move which will allow first-time buyers access to almost every single residential product on offer.

“We anticipate there will be a growing number of potential first-time buyers coming to market looking for specialist residential products and this is a range which now fully caters for that borrower demographic.

“A major focus for Foundation this year is our specialist residential offering and we believe this refreshed range offers a considerable amount of competition for advisers and a wealth of product options for those borrowers who have a range of specialist needs such as multiple or complex income streams, are self-employed, or who have historical credit issues.

“Foundation’s sales team is on hand to support advisers with these clients, and this highly-competitive range should offer plenty of product solutions for their needs.”