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Foundation raises maximum loan size to £1m

by: Karin Wasteson
  • 15/09/2017
  • 0
Foundation raises maximum loan size to £1m
Foundation Home Loans is increasing its maximum loan size across its buy-to-let range with immediate effect, a move made in response to increasing demand the lender said.

The maximum individual loan size will increase to £1m for loans up to 65% LTV. For loans up to 75% and for houses in multiple occupation (HMOs), the maximum loan size will remain at £500,000. Pricing will not change.

“We have been receiving an increasing demand from intermediaries for larger loan sizes, so this is a simple move in response to that,” said Jeff Knight, director of marketing at Foundation Home Loans.

“As a growing specialist intermediary lender, we will continue to identify ways to expand our product proposition to the market,” he added.

Foundation Home Loans recently launched an HMO product to expand its buy-to-let offering, in order to “reflect growing demand”. In August, Moneyfacts revealed that its new five-year fixed-rate buy-to-let product was the lowest deal available to limited companies.

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