Within its core buy-to-let range, the lender has added mortgages to its F1 tier for borrowers with an almost clean credit history.
This includes two and five-year fixed rates at 75 per cent loan to value (LTV) with pricing beginning at 6.24 per cent with a £1,995 fee.
It has also added a large loan option for F1 borrowers which is fixed for five years and available at 65 per cent LTV. This has a rate of 5.84 per cent and a fixed product fee of £3,995. The minimum loan size available is £200,000 and the maximum is £2m.
Foundation has brought back its F3 products for portfolio and non-portfolio landlords with recent credit blips. There are two and five-year fixed options as well as a two-year discount product at 75 per cent LTV. The discount deal has a rate of 6.84 per cent and there are no early redemption fees.
It has also relaunched buy-to-let products for expats across its F1, F2, and F3 criteria for houses in multiple occupation (HMO), large HMO and short-term lets. There is also a green mortgage for properties with an Energy Performance Certificate (EPC) rating of C or above. Rates begin at 6.29 per cent at 75 per cent LTV with a 1.25 per cent fee.
Residential changes
The lender has added products for owner occupiers across its F1 to F4 criteria, which ranges from those with almost clean credit histories to those with recent and significant blips.
For F1 borrowers who fall just outside of mainstream criteria, there are two fee-assisted products at 75 per cent LTV fixed for either two or five years. Rates begin at 6.74 per cent and there is a reduced fee of £795, a free standard valuation and no application fee.
For F2 borrowers with recent credit blips rates begin at 6.89 per cent, for F3 borrowers who have had credit problems rates start from 7.14 per cent and for F4 borrowers with no significant adverse in the last six months rates begin from 7.39 per cent. This includes two and five-year fixed options at 65 and 75 per cent LTV.
Foundation has also added two and five-year fixes for professional borrowers with rates starting at 6.49 per cent.
George Gee (pictured), managing director (commercial) at Foundation Home Loans, said: “From the conversations we have with advisers, we know they are seeing an increasing number of borrower clients who come to them with specialist mortgage needs, be that complex incomes or multiple sources of income or low credit scores in the owner-occupied space, or limited company borrowing, specialist property purchase and remortgaging, or expats looking to add to their buy-to-let portfolios.
“Our aim here is to provide a wide range of product options to advisers active in specialist mortgages, and to offer a range of different rates, fee options, LTV levels, that should provide the solutions these borrowers want and need.”
