Welcome to Foundation Home Loans. We are a specialist buy to let and residential mortgage lender, providing flexible solutions for your more complex cases.
Updated 26.11.2021
Time to answer:
3 minutes
Average time to answer broker desk calls.
DIP referral:
Buy to let - 1 day
Residential - 1 day
Decision in principle referral time.
Application review:
Buy to let - 5 days
Residential - 5 days
Maximum time to review a full mortgage application.
Underwriter review:
Residential - 5 days
Maximum time for underwriter to review once all requirements (including valuation) are met.
Lending criteria
A case to place?
Today we have broadened our owner occupied proposition with the launch of products with enhanced loan-to-income limits for professionals.
At Foundation, we offer a range of mortgages for professionals, which allow your eligible borrowers to access a loan amount of up to six times their income.
In recent times, we’ve seen landlords take many different approaches to their portfolios but one constant is the search for greater yield.
Even if your client has complex income, employment or debt which does not meet mainstream criteria, there are more ways you can help them now:
A softening of criteria amongst lenders is reported to have seen brokers challenged with a rush of newly self employed applicants with just one year’s worth of accounts.
Despite self employed landlords being hardest hit by the pandemic, only 1% of landlords expect to lose their business as a result of Covid-19, according to our new research.
Our latest research show that almost two thirds of self employed individuals believe it is more difficult for them to secure a mortgage.
We have launched a new ‘limited edition’ two year discounted variable product with no Early Repayment Charge for buy to let and limited company buy to let borrowers.
Our Solicitor Panel is managed by ULS technology, and we took that decision to support you, the broker.
On the back of such an uncertain period for many people, it’s vital for lenders to establish a real understanding of how people view their homes (whether rented or owned), how/why any views may have shifted and how people have adapted. Not to mention, future property objectives and their perceptions of the current mortgage market.
Many questions have been asked of employed and self-employed people over the course of the pandemic and, as a lender and as an industry, we are constantly evaluating how to better service their borrowing needs.
Today we launched ‘Green ABC+’ fixed rate products for both buy to let and owner occupied mortgages, with rates and cashback based on the property’s energy performance rating.
Anyone can check the Energy Performance Certificate (EPC) of a property on the government's EPC register below.
We have launched new buy to let limited editions with both no fee and flat fee options which are highly competitive on both rate and fees, giving an attractive total cost for individual and limited company landlord borrowers.
The return to studying without Covid restrictions represents great news for students and landlords alike as towns with large student populations have long proved attractive investment opportunities, as shown by our continued landlord interest in mortgages for HMOs.
We have launched new owner occupier remortgage limited editions with no fees, and buy to let flat fee limited editions for both individual and limited company landlord borrowers.
All lenders have been forced to modify their approach as a result of the pandemic.
The buy to let sector has experienced many ups and downs over the years but it has always come out the other end stronger.
As one of the first specialist lenders to launch a green mortgage offering, our ongoing aim is to help a variety of borrowers to benefit from energy-efficient properties, and positive and feedback from our intermediary partners suggests that a growing number of landlords, homeowners and potential homeowners are becoming more environmentally conscious when it comes to their homes and investments.
For portfolio landlords, the quest to maximise yield (price versus income) is a constant one, and several UK regions are currently fitting this agenda.
Today we have launched a full re-release of our entire buy to let product range with fees reduced by up to a full 1% at the same time as rate reductions of up to 0.25%, plus the introduction of a new Short Term Let product with a flat fee.
We are seeing sustained interest from landlords who are looking to both diversify and expand their portfolios.
Today, we have launched a further limited edition five year, fixed rate buy to let product specifically for portfolio landlords, with no product or application fees.
We have launched a set of ‘no fee’ 75% LTV two year fixed rate limited edition buy to let products exclusively for portfolio landlords.
What does the future hold? It's all about fintech, isn't it? Or is it? Robots have brought a huge amount to our underwriting, but the need for human assessment of clients’ complex situations is an area where Specialist Lenders are taking the lead. An interview with Mark Whitear, Head of Commercial Development.
We've launched a new limited edition five year, fixed rate buy to let product specifically for portfolio landlords.
As of today, we have opened up our green mortgage products to landlords purchasing property.
We have recently changed our criteria to allow first time buyers access to almost every single one of our residential products.
The importance attached to the advice process in sourcing appropriate and responsible solutions to combat the challenges of homebuying has never been more apparent, yet some potential borrowers continue to go it alone.
It will come as little surprise that the effects of the last 18 months are now resulting in rising demand for flexible underwriting for complex income residential cases; and this is true for both employed and self employed borrowers.
Today, we have launched a new Limited Edition, remortgage only 5 year fixed buy to let product priced at 3.19% available up to 75% LTV and a maximum loan of £1M.
As a lender, we are always striving to assess landlord profiles, what they are looking for from a lender, what a ‘typical’ portfolio might look like and how various landlords are reacting to current market conditions.
Watch our Head of Sales, Grant Hendry, and Julian Sampson, Partner and Head of Lending at TWM Solicitors explain the legal side of Limited Company lending and just how to get your clients over the line.
Like many lenders, we’re currently experiencing a surge in interest from landlords who are looking to diversify their portfolios.
We've refreshed our residential product offering, which will allow first-time buyers to access more of the range.
Every quarter, in conjunction with BVA BDRC, we ask around 900 landlords for their insight on every aspect of the buy to let market, including portfolio sizes, borrowing intentions and view of the current markets.
Today, we have made a number of rate reductions across our five year fixed rate mortgage range for landlord borrowers, and introduced a new 65% LTV Green Reward Remortgage.
The residential sector is becoming increasingly complex for many types of potential borrowers.
Here at Foundation Home Loans, we’re experiencing a surge in interest from landlords who are looking to diversify their portfolios.
I’m sure we can all appreciate the highs and lows experienced across the self-employed community over the past 12 months and some of the existing shortfalls when it comes to their mortgage requirements.
With further lockdown restrictions set to be lifted, we can look forward to raised spirits and increased activity.
At Foundation Home Loans we find solutions for financial needs...
We've launched a number of new products, including fee assisted options for purchases as well as remortgages, two fixed fee HMO and multi unit blocks (MUB) deals, in addition to rate reductions on our 80% LTV products.
Green mortgage options are expected to be a growing option for landlords and owner-occupiers over this next decade and we are pleased to be among the trail blazers with our ‘Green Reward’ remortgages.
With Q1 2021 now behind us, it seems like a good time to take stock of what has happened during those first three months, and what the rest of the year might bring.
Today, we have reduced the product fees on our three limited edition, limited company buy to let products.
As some lockdown restrictions are lifted, the scale of the impact on household finances and its likely consequences on the UK economy remain to be seen.
Today, we've launched a new suite of residential products, including 90% LTV, large loan, fee assisted and more for those borrowers who just miss out on the high street.
With the majority of 2020 and the early part of 2021 having a significant impact on many individuals’ income and financial situations, we anticipate that the self-employed particularly will require specialist residential finance going forward, whose propensity for complex income structures often throws them out of mainstream lending criteria.
Today, we've launched a Green Reward Remortgage as part of our residential range.
An important trend is that interest from new investors, ‘first time landlords’ continues to grow.
With the majority of 2020 and the early part of 2021 having a significant impact on many individuals’ income and financial situations, we anticipate that an increased number of cases will require specialist residential finance going forward.
We've cut a number of rates across our standard and HMO ranges, and we've launched a new limited edition limited company buy to let five year fix and two new short term let products.
Green mortgages and green finance are areas which represent huge potential for lenders, intermediaries and borrowers.
What’s the difference between a limited company portfolio landlord, compared to a portfolio held by an individual or group of individuals?
Why is it so advantageous to use a specialist solicitor for a specialist case? And why does it help to use a solicitor who already works closely with your lender?
Covid-19 has changed the financial landscape for businesses and individuals across the country.
As of today, we have launched two new exciting limited edition, limited company buy to let products.
We believe that the move to improve carbon emissions in the property sector remains critical in 2021. Here are 6 reasons to speak to us about a green mortgage for your landlord clients in 2021.
We continue to develop our product proposition to service the specific needs of the modern landlord in the modern mortgage market. Whether through the addition of lower-value properties, HMOs or multi-unit blocks.
We may still be in Q1 but there are plenty of reasons to be optimistic that landlords will remain active over the course of 2021 as shown in our latest research carried out by BDRC.
Despite shifting market dynamics and lingering economic uncertainty, the fundamental principles underpinning the UK private rented sector remain strong.
We have made significant rate reductions today on our residential and buy to let products.
Today we have launched our exciting new Green Reward remortgage product.
No extension of the current stamp duty reduced rates period has been announced, and we have to work on the basis that it won’t be forthcoming.
We have cut rates on many of our 80% LTV residential products today and introduced two new 85% LTV products.
One of the core parts of our lending proposition, given that we only offer our mortgages via advisers, is responding to feedback and seeking to find solutions to the issues raised.
Today we’ve introduced exciting new limited edition, limited company buy to let products with reduced product fees.
Just because the stamp duty deadline has been shunted back 3 months, we must all still plan for the impact it will have on our new business pipelines.
As of today, we have cut the rate on our five year buy to let fixed rate mortgage at 75% LTV.
We've recently expanded our resources across the underwriting, new business and sales teams.
Our very own Grant Hendry and TWM solicitor Julian Sampson recently sat down to discuss the upcoming stamp duty deadline.
Our key valuer partners have announced that they are to continue with physical valuations in England and Wales despite the new national lockdown.
Back in November, the Chancellor Rishi Sunak further extended the furlough scheme to provide additional support for a variety of businesses and individuals.
The response to the ‘reopening’ of the housing market after the first lockdown in 2020, especially from a specialist lending perspective, was incredible.
With so many specialist property types or properties with specialist uses, Gemma Lang, our Regional Account Manager for the East of England, tells us what specialist property mortgages we can help you with.
Following your feedback, we have made improvements to our broker portal to enable us to get to underwriting your residential cases sooner.
The housing and mortgage markets have been buoyant during the 3rd Quarter and into Q4, fuelled largely by the SDLT temporary reduced rates for house purchases completing before 31st March 2021.
It’s testament to the UK’s continued appetite for homeownership, government intervention and sustained commitment from lenders that we're in this quite remarkable position at the end of 2020.
The impact of the second national lockdown was far less severe than the initial lockdown period on the property and mortgage markets.
We now accept ‘no search indemnity insurance’ for purchase and remortgage transactions, with the exception of purchases and/or remortgages of HMO and MUB properties.
Recent mortgage data from CACI suggests there is likely to be significant number of product maturities in December - valued at £33.18bn - while 2021 could see the total maturity figure hitting £250bn.
Our latest research via BVA BDRC landlord survey for Q3 shows that HMO properties outrank all other property types by quite some way.
We understand that getting your clients cases through can often be a time-consuming process.
The landscape has been rocky for property investors for the last three years.
We're here to support those extra-ordinary clients with unsual income sources or those recently self-employed who may now no longer be fitting the criteria of mainstream lenders.
We have listened to your feedback and simplified the supporting documentation required for residential mortgage applications.
As our lives continue to adapt, we lenders are constantly listening and evolving how best to interact with our adviser partners and their clients/our customers.
We've listened to your feedback and made our limited company cases even more straightforward.
We've put together our top tips to speed up your clients’ residential application.
As the property and mortgage markets change, so do the needs of your clients and the types of expertise you must offer.
We are used to dealing with complex limited company structures, particularly companies using Directors’ loans as deposit.
As experts, we can find you a solution for a broader range of landlord situations.
BDM Gemma Lang shares six questions to help you key in your clients’ application smoothly.
The residential lending landscape has changed immeasurably, particularly in the specialist sector.
We've put together our top tips to speed up your clients’ BTL application.
Rightmove reported a 1.9% increase in asking prices in June compared to March.
My job is usually visiting brokers at their homes, offices, or if I’m lucky a beer garden.
As physical valuations return, here is an important message from one of our valuer partners.
Our CEO and our Head of National Accounts discuss the cost of borrowing amidst this pandemic.
Our key valuer partners have announced that they are resuming physical valuations in England.
We announced late last week that we would return to new lending today. And now we want to share with you a brief overview of what that looks like.
We are delighted to tell you that from Monday 18 May, we will be accepting new business.
During our recent webinar - working through the new abnormal - we asked what questions you'd like answered.
We can’t dress things up, this is a crisis. One that has been extremely sharp.
2020 vision is often referred to as having hindsight. Lots of people are probably thinking, ‘If only’?
We teamed up with Mortgage Introducer to bring you a webinar on working through the new abnormal.
Each lender has their own individual approach to generate and service new and existing business.
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