FHL completes 95% of cases before SDLT deadline

Foundation Home Loans has reported that over 94% of packaged cases received by the end of January completed or were ready for completion prior to the Stamp Duty deadline.

Related topics:  Mortgages
Rozi Jones
19th April 2016
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Foundation Home Loans had asked brokers to submit fully packaged cases before the end of January in order to be able to complete in time to ensure that customers did not have to pay the 3% surcharge levied on BTL purchases from the 1st April.

Additionally, 36% of completions in March were on cases submitted after the January deadline but we were still able to get these through to completion.

Commercial Director, Simon Bayley, said:

“Thanks to the cooperation between our partners (especially valuation and conveyancing partners) and the underwriting and support teams at FHL, we achieved a near perfect result. The 6% of cases which did not make it were invariably down to factors beyond our control such as valuation access issues or reoffers.

“We have proved that with the right staff and the ever closer relationship we have developed with our partners, the intermediary community can be assured that placing their clients with us means they will receive the best service available. In the coming months, we will be announcing important enhancements to the service to keep us at the pinnacle of customer service.”

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