Foundation – The Lender with many criteria quirks!

Foundation – The Lender with many criteria quirks!

9:18 AM, 22nd March 2024, About 4 months ago

Text Size

Foundation Homeloans, are one of the more flexible lenders and recently had a bit of a shake-up.  Landlords will be interested in some of the quirks:

They have a ‘solution’ based approach where they will consider most cases and let us know if they can help. Speaking to their lending manager recently, he has expressed that they would really like to be able to help everyone and are planning on huge flexibility for the right mortgage professionals. Luckily, due to the quality of our work, we are one of those chosen.

Flexible Buy to Let criteria:

-Day 1 remortages for all types of properties
-First Time Landlords for all types of properties (HMOs and Holiday lets incl)
-LTD Co SPV – 4 directors allowed – unlimited shareholders
-Intercompany loans accepted as deposit – Mirrored ownership NOT required
-ICR at 125% x Payrate on five-year fixed rates for limited companies and for basic rate taxpayers
-Unlimited BTLs in background – Bespoke stress test calculation, must be self-financing
-No minimum income requirement
-Portfolio assessment valid for 6 months
-Larger portfolios accepted
-Non-residential owners, but who own a BTL property
-No application fee and free valuation product for HMOs up to 6 beds.
-Short-term lets – Air Bnb & Holiday lets accepted – Mid/High/Low
-Flats under 30 SqM considered
-Investor-Led blocks
-First-time landlords can be considered
-Mixed Use(Semi commercial)
-No Maximum number of Bedrooms for HMO cases, and 10 Units for MUBs
-MUB – can consider units below 30sqm and utilities not split
-Expats accepted

Get in touch using the form below and let’s start a chat about how we can help you.

Contact Howard Reuben

Mortgages, Commercial and Bridging Finance, Life Insurance, Wills, Trusts and LPA's

  • Please enter a number from 0 to 999.
  • How can I help you?

Share This Article

Landlord Tax Planning Book Now