94% of FHL cases beat stamp duty deadline

Foundation Home Loans completed 94% of cases received by the end of January before the 3% stamp duty surcharge came into force on 1 April.

The Bracknell-based buy-to-let lender had asked brokers to submit fully packaged cases within January to have a chance of making the cut, although 36% of completions in March were on cases submitted after January.

Simon Bayley, commercial director at Foundation Home Loans, 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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Ryan Fowler is the editor of Specialist Finance Introducer