Foundation Home Loans introduces exclusive products under its Buy to Let and Residential brands, aiming to cater to a niche market.
- A new limited edition holiday let product is now available under the Buy to Let brand, with a 5-year fixed rate.
- The Residential brand unveils F1 limited edition remortgage options for borrowers with past credit issues.
- These new products offer solutions for those missing out on mainstream mortgage options due to financial history.
- Tom Jacob comments on the importance of diversification and upcoming mortgage maturities.
Foundation Home Loans has recently unveiled a range of limited edition mortgage products, targeting specific needs under their ‘Buy to Let’ and ‘Residential’ brands. These products are crafted to provide tailored solutions for clients with niche requirements, specifically in the holiday let market and for borrowers dealing with historical credit issues.
Under the ‘Buy to Let by Foundation’ banner, there is a new limited edition 5-year fixed-rate holiday let product. This offering is structured to support clients financing more specialised property types, providing up to 75% loan-to-value with a competitive rate of 6.24% and a fee of 2.25%. This move follows the recent relaunch of the ‘Buy to Let’ range, which saw updated rates introduced just last week.
The ‘Residential by Foundation’ line introduces F1 limited edition remortgage-only products, available in 2- and 5-year fixed rates. These options are designed for borrowers who might find themselves excluded from mainstream offerings due to historical credit challenges, offering up to 65% loan-to-value. Rates begin at 5.99%, alongside a fixed fee of £595.
Tom Jacob, director of product and marketing at Foundation Home Loans, highlights the strategic aim of these launches. He points out the ongoing drive for diversification within landlord portfolios, particularly for holiday lets. According to him, these new products will aid investors looking to purchase or remortgage such properties.
Jacob also notes the significant number of mortgages set to mature throughout 2024 and 2025, asserting that these new limited edition remortgage products will benefit those ending their current deals and just missing the mainstream threshold. He emphasises that these offerings provide valuable fee-assisted options, aligning with a broader goal to support advisers in achieving positive outcomes for their clients.
Foundation Home Loans’ latest offerings are a strategic response to niche market demands and upcoming mortgage maturities.
