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Foundation cuts rates on light adverse limited company loans

by: Mortgage Solutions
  • 21/06/2016
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Foundation cuts rates on light adverse limited company loans
Foundation Home Loans has reduced rates on its light adverse range for purchase and remortgage limited company-held buy to lets bringing the products in line with pricing for individual landlords.

The lender has also cut rates on prime fixed products and removed the maximum age for limited company buy to let.

The five-year fix has been reduced from 4.39% to 4.09%, the two-year from 3.69% to 3.59% and finally, the three-year from 3.89% to 3.79%.

Paul Brett, business development director at Foundation Home Loans, (pictured), said the range simplifies its product offering.

“Significantly, we are showing our commitment to the limited company channel by ensuring that the whole range, including our light adverse products, is now available at the same price point as individual products.”

In mid-June, the lender increased its rental coverage calculation for individual applications from 125% to 145% following Nationwide’s move to become the first lender to pre-empt regulation by tightening buy-to-let criteria in April.


Foundation Home Loans preparing for rental coverage hike

At the end of May, Foundation confirmed Joela Jenvey, previously at Birmingham Midshires and Northern Rock, in the role of regional account manager for the West and South West.


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