You are here: Home - News -

Foundation expands mortgage range for borrowers with credit problems

by:
  • 06/08/2020
  • 0
Foundation expands mortgage range for borrowers with credit problems
Foundation Home Loans has extended its range of residential mortgage deals for borrowers who have fallen behind on their credit committments.

 

Five deals have been added to the range including first-time buyer mortgages that come with lower product fees. All deals are available up to 80 per cent loan to value.

The new additions to the F2 range are two- and five-year fixed rates priced at 4.19 per cent and 4.59 per cent respectively and a two-year discounted rate of 3.99 per cent with no early repayment charges. All three deals come with a £995 fee.

The two first-time buyer deals are fixed for two- and five-years and are priced at 4.29 per cent and 4.69 per cent respectively. They come with a lower product fee of £595.

Accepted credit problems include late payments on credit cards, mail order goods, telecommunications, utilities or unsecured loan arrears.

Jeff Knight, director of marketing at Foundation Home Loans, said: “Minor credit blips will continue to push some borrowers beyond the realms of mainstream lending but that doesn’t mean they are not credit-worthy, and that their property related needs should be ignored.

“We also believe that demand for specialist first-time buyer products is increasing and with borrowers still struggling to raise deposits, these products need to be designed to help reduce upfront costs where possible.

“Additional options are vital for this growing band of borrowers and we have the overall product offering, criteria and service to ensure they can access the mortgages they deserve.”

 

There are 0 Comment(s)

You may also be interested in

Read previous post:
Mantra Capital advises on £10m deal for 270 properties with LendInvest

LendInvest and Mantra Capital have combined on a £10m bridging finance loan to a borrower who experienced financing delays due...

Close