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Foundation Home Loans furloughs staff

Foundation Home Loans has furloughed a number of its staff due to the coronavirus pandemic.

The firm said that it has furloughed staff in order to focus its efforts on providing mortgage payment holidays.

It also cited the suspension of new applications as a reason to utilise the government’s COVID-19 Job Retention programme.

The lender is asking employees not to work during April, in order for it to re-evaluate its product offering.

Furthermore, it urges advisers to contact the central helpline, as their usual contacts will be unavailable.

It has also taken the decision to put all pre-offer applications on hold.

Hans Geberbauer, chief executive of Foundation Home Loans, said: “In order to focus all our efforts on providing mortgage payment holidays and with the suspension of new applications, we will furlough a number of our staff.

“These decisions have not been taken lightly but we believe they are necessary; we will be doing all we can to assist both our staff and all our intermediary partners during these challenging times.”

Mortgage Introducer enquired about the number of staff being furloughed, however, Foundation declined to comment.

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