The residential mortgage is for slightly more complex borrowers with some previous blips on their credit profile.
The Foundation residential range includes a standard offering for clients with no CCJs or defaults or mortgage arrears within the last two years. Its specialist range is for clients with more recent blips on their credit rating. Both ranges provide a choice of two-year fixed rates.
Both will be distributed through Foundation’s preferred partners, which include L&G Mortgage Club, a packager panel, Paradigm and Intrinsic with its broker panel due to be broadened over time.
Jeff Knight, director of marketing at Foundation Home Loans said the lender is taking the next step in its growth plans.
He said: “It is an exciting time to be part of the team at Foundation as we continue to deliver growth. We have gained a strong reputation within the buy to let market and we want to transfer our straightforward, pragmatic approach to the residential market, targeting a sector in the market that we believe is growing.”
In addition, the lender has rebranded (pictured) to reflect its strategic repositioning within the market. The new branding was unveiled to its staff earlier this month at an all company conference and featured at Mortgage Solutions’ Buy To Let Market Forum.
Knight said: “Our branding had to reflect our market positioning and our new corporate values, that our employees have been part of developing. Our branding has truly been built from within, which is how it should be.”