Our new F1-F4 credit tiers

We have broadened the range of permitted events in our F1-F3 credit tiers to accommodate the additional credit blips and instances which may have occurred in recent years.

We have also introduced a new F4 tier to open up our products to a broader group of customers and deliver additional options that they may not have had access to previously.

The new range provides a greater number of product options for the borrowers who have an impacted credit score and have experienced more recent life events, but have shown they are able to make their mortgage payments.

For some borrowers, the realignment of permitted credit events in each tier means that they may be offered a better product than they may have before the change.

George Gee, Managing Director (Commercial) at Foundation Home Loans, said:

“As part of the development of this product proposition, we analysed thousands of credit points on data that represented the current owner-occupier mortgage market and we believe that, with this broadening of our criteria, we are able to cater for more than 85% of residential borrowers that may need a specialist solution.”

At Foundation, you can now find a home for even more of your near-mainstream borrowers who have had recent issues due to events in the past few years.

Try the calculator and DIP here

FOR INTERMEDIARIES ONLY