Foundation Home Loans has secured a new funding line worth £1.25bn as the specialist lender looks to continue its residential and buy-to-let (BTL) mortgage offerings.

The new syndicated, warehouse facility was supported by six lenders and will provide financing for the lender over the next five years.

Foundation Home Loans has offered manually underwritten residential and BTL mortgage criteria for borrowers with complex needs since 2015.

The lender’s brands include Residential by Foundation, for complex, non-mainstream residential criteria; Buy to Let by Foundation, which is for limited companies, portfolios, holiday and short-term lets; and Solutions by Foundation, for specialist BTL cases such as multiple occupancy, mixed use property and ex-pats.

Managing director – commercial at Foundation Home Loans, George Gee, said: “We are very pleased to be able to secure this significant, long-term financing to support our new core brands.

“It will allow us to continue developing our product proposition and resources while significantly growing the business in order to support our intermediary partners and their borrower clients, specifically those with specialist mortgage needs.

“The warehouse acts to rationalise and simplify the group’s funding structure and will sit alongside the well-established Twin Bridges and Brants Bridge public RMBS programme.”

Foundation Home Loans is a trading name of Paratus, an intermediary-only specialist lender and mortgage servicer.

Paratus was advised on the financing by George Street Advisory’s Matt Blake, who added:
“I am delighted to have supported Foundation Home Loans on the development of its funding plan and the delivery of this marquee transaction.”

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