Foundation Home Loans launches new 90% LTV residential products

Foundation Home Loans has launched a new suite of residential products.

The new F1 product range includes new 90% LTV fixed-rate options, priced at 4.99% for two years and 5.19% for five years. These come with no product fee and a maximum loan size of £500k.

Foundation is also launching a new, limited edition large loan product, for loans between £500k and £2m priced at 2.99% fixed for five-year to 65% LTV. The product has a fixed fee of £1,495 and is available on a capital and interest repayment basis.

The lender has also launched new, limited edition fee-assisted products available for both purchase and remortgage purposes with a free valuation and no application fee. Pricing starts at 2.99% fixed for two-year to 75% LTV, with a five-year fixed rate option at 3.19% offering loan amounts up to £1m. There is also an 80% LTV two-year option at 3.49% and five-year at 3.69% up to £750k. All of these have a product fee of £1,295 and are available on a capital and interest repayment basis.

Foundation has also reduced its two-year discount rates by up to 0.2%, with rates starting at 2.69%.

These new products follow the launch of Foundation’s ‘Green Reward’ residential remortgage last week which offers homeowners who have made improvements to their home, and subsequently raised their Energy Performance Certificate (EPC) rating to a ‘C’ or above, £750 cashback on completion and a reduced product fee of £595.

George Gee, commercial director at Foundation Home Loans, said: “This new product range is designed to support intermediaries in offering more choice of higher loan-to-value and large loan products to their self-employed clients and those with complex income streams.

“Our expertise and flexible underwriting allow us to open the door for more borrowers to purchase or remortgage with a lower deposit, or to access larger loan amounts, utilising 100% of more types of income.

“Specialist residential borrowing is likely to grow considerably through 2021 and beyond, and we want advisers to know there is a lender that will fit the bill for the growing number of those clients.”

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