"This new product range is designed to support intermediaries in offering more choice of higher loan-to-value and large loan products"
The new F1 product range includes new 90% LTV fixed-rate options, priced at 4.99% for two years and 5.19% for five years. These come with no product fee and a maximum loan size of £500,000.
Foundation is also launching a new limited edition large loan product, for loans between £500,000 and £2m priced at 2.99% fixed for five-years at 65% LTV. The product has a fixed fee of £1,495 and is available on a capital and interest repayment basis.
The lender has also launched limited edition fee-assisted products available for both purchase and remortgage purposes with a free valuation and no application fee. Pricing starts at 2.99% for a two-year fix at 75% LTV, with a five-year fixed rate option at 3.19% offering loan amounts up to £1m. There is also an 80% LTV two-year option at 3.49% and five-year product at 3.69% up to £750,000. All of these have a product fee of £1,295 and are available on a capital and interest repayment basis.
Foundation has also reduced its two-year discount rates by up to 0.2%, with rates starting at 2.69%.
George Gee, commercial director at Foundation Home Loans, said: “This new product range is designed to support intermediaries in offering more choice of higher loan-to-value and large loan products to their self-employed clients and those with complex income streams.
“Our expertise and flexible underwriting allow us to open the door for more borrowers to purchase or remortgage with a lower deposit, or to access larger loan amounts, utilising 100% of more types of income.
“Specialist residential borrowing is likely to grow considerably through 2021 and beyond, and we want advisers to know there is a lender that will fit the bill for the growing number of those clients.”
