Foundation Home Loans adds 90% LTV resi products
Foundation Home Loans has added a host of 90% loan-to-value (LTV) residential mortgage products.
The new F1 product range includes 90% LTV fixed-rate options, priced at 4.99% for 2-years and 5.19% for 5-years.
These come with no product fee and a maximum loan size of £500,000.
Foundation is also launching a limited edition large loan product, for loans between £500,000 and £2m, priced at 2.99% fixed for a 5-year term, up to 65% LTV.
The product has a fixed fee of £1,495 and is available on a capital and interest repayment basis.
Additionally, the lender has introduced limited edition fee-assisted products available for both purchases and remortgages, with a free valuation and no application fee.
Pricing starts at 2.99% fixed for 2-year up to 75% LTV, with a 5-year fixed rate option at 3.19% offering loan amounts up to £1m.
An 80% LTV 2-year option at 3.49% and 5-year at 3.69% up to £750,000 are available as well.
All of these have a product fee of £1,295 and are available on a capital and interest repayment basis.
The lender has also reduced its 2-year discount rates by up to 0.2%, with rates now starting at 2.69%.
George Gee (pictured), 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.”