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Foundation Home Loans offers six times income multiple to professionals

  • 25/11/2021
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Foundation Home Loans offers six times income multiple to professionals
Foundation Home Loans has launched residential mortgages with enhanced loan-to-income limits for professionals.


The deals allows home movers and first-time buyers in eligible professions to borrow up to six times their income. The deals are also available to borrowers remortgaging.  Options include a two-year discount product that has no exit penalty and a two-year fixed rate. Both come with one free standard valuation and a maximum loan size of £750,000 up to 85 per cent loan to value (LTV), including first time buyer deals.

The professional products add to Foundation’s range of residential mortgages for owner-occupiers with complex income or a need for specialist underwriting.

Foundation defines a professional as someone currently practicing and holding the relevant qualification. A maximum of two applicants per mortgage are permitted and only one needs to be an eligible professional. Foundation’s list of eligible professions includes accounting, actuarial, medical, legal, surveying, architecture and engineering.

The two-year fixed rate is offered at 2.99 per cent up to 75 per cent LTV and 3.84 per cent up to 85 per cent LTV.  The two-year discount product is set at 2.84 per cent up to 75 per cent LTV or 3.69 per cent up to 85 per cent LTV. Each deal comes with a free valuation and a flat product fee of £1,495.

George Gee (pictured), commercial director at Foundation Home Loans, said: “Foundation Home Loans is committed to continuously developing and widening its proposition to cater for different types of borrowers with complex needs. We have the expertise to individually assess incomes and we can, for some clients such as professionals, apply enhanced multiples.

“We believe these products offer an additional choice to borrowers who have secured their professional qualifications. The enhanced income multiple we are able to use for these borrowers should allow them to access a wider range of property options.”

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