Foundation Home Loans has announced it is joining MCI Club’s lender panel and that adviser member firms will be able to access Foundation’s range of residential and specialist BTL products.

Foundation’s residential range is aimed at borrowers who narrowly miss the requirements of mainstream high-street lenders – offering both two and five-year fixed-rate products from 65% LTV and up to 90% LTV.

At the end of last month, the lender had announced a series of criteria enhancements to open its residential mortgages to more borrowers – including those with accidental, historical blips, and credit blips in the last year.

For its range of specialist BTL products, Foundation provides solutions for portfolio and limited company applicants.

The lender’s BTL criteria currently includes 80% LTV for those who are purchasing or refinancing through a limited company, an ICR of 125% of the pay rate for five-year fixed rates, no maximum client age, acceptance of newly-incorporated limited companies, and a maximum loan size of £1.5m.

Foundation director of marketing, Jeff Knight, said: “We continue to broaden our distributor relationships, and this new tie-up with MCI Club means its member firms will now have access to Foundation’s range of both residential and BTL products.

“With 2020 just around the corner, and several shifting demographic and financial trends, we anticipate that our range of residential products for those who just miss out on the mainstream, plus our specialist products for landlords, will be much in demand.

“Advisers are increasingly likely to see borrowers with specialist needs, from those with minor credit blips, to professional landlords seeking a limited company product solution.

“The good news is that MCI Club members can access our range of products and services in order to meet this demand. We’re looking forward to working with the team at MCI Club and believe this will be a strong and long-lasting relationship.”

MCI Club is part of the eKeeper Group and partners with Auxilium to offer a complete mortgage, CRM and protection proposition.

The Club works with mortgage intermediaries to provide access to lenders such as Foundation, as well as insurers and product providers.

Head of MCI Club, Phil Whitehouse, added: “Foundation will be a great addition to MCI Club’s lender panel which has now grown to 39 lenders covering all areas of the market.

“Our member base of 800 intermediaries are increasingly having to deal with customers with more specialist lending requirements and Foundation will give them the support they require as a dedicated intermediary-only lender.

“They put the intermediary first and their experienced team offer a speedy decision process through their easy to use systems.”

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