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Cost of Living and Affordability – how we can help
It’s no secret that the last few years have been difficult, and 2022 brings its own challenges: the cost-of-living crisis is one of them.
Inflation is soaring and is expected to rise to 10% by the end of the year; largely being driven by food, oil and gas prices. This, paired with rising national insurance contributions, the rise in the base rate and house prices increasing due to the lack of stock, has inevitably created the perfect storm for those whose incomes have not been able to keep up with the rising cost of living.
In these more challenging times its good to know that the Specialist Mortgage sector is here to support your clients who may no longer fit the high street and can provide solutions for more complex needs.
At Foundation, we have solutions that can help when it comes to affordability:
- Modified income calculator for those needing a £4£ remortgage
- Flexible underwriting for those who are self-employed including considering 1 year’s accounts and latest year’s figures
- Earned income considered to the age of 75 if sustainable
- A mortgage range for professionals where we can consider up to 6 x income
- Day 1 contractors accepted
- No minimum income on interest only
- with a minimum £150k equity in property if wishing to use as repayment vehicle (£200k in London)
- No minimum time in current employment
If you think that we may be able to help any of your current clients, we would love to speak to you. The direct dial for your Regional Area Manager is here.
FOR INTERMEDIARIES ONLY
