The offering is the 75% LTV 5-year fix, which has been reduced from 3.54% to 3.44%.
It includes a 2% fee, and is available to both individual landlords as well as those using limited companies.
Furthermore, the offering includes a £1m maximum loan size and there is no limit to the borrower’s background portfolio size, subject to a maximum of £3m with the lender.
George Gee, commercial director at Foundation Home Loans, said: “Our five-year products support landlords looking for a more generous loan for their rental income, given that our ICR is calculated at 125% at the pay rate – in this case 3.44% – for limited companies and basic-rate tax-payers, and 145% for other borrowers.
Clare Stone - Charlie after enjoying rolling around in the snow and sniffing out his treats!
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Amanda Ella Davis - Gracie and Wowza enjoying the snow in the back garden.
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Foundation Home Loans hires staff to handle stamp duty holiday surge
By Roger Baird 21
st January 2021 10:16 am
Foundation Home Loans has hired a range of staff across its underwriting, new business and sales teams to cope with an “anticipated busy first quarter” ahead of the end of the stamp duty holiday.
The intermediary-only specialist lender has promoted two internal business development managers, David Wheatley and Patrick Ogrigri, to become regional account managers this month. Wheatley, in London and Ogrigri in the South Central area, will work with intermediaries in those regions.
The Bracknell-based business also promoted Sarah Wade to head of marketing in January, previously she filled the role on an interim contract basis.
Foundation Home Loans expanded its recruitment across its underwriting, new business and sales teams.
In January, seven new underwriters have been employed and over the past few months a number of new underwriting assistants, processing team members and completions staff have joined the business.
Foundation’s sales team has also been boosted with a number of new starters and promotions for existing staff.
In January the lender brought two new internal BDMs on board and a new sales support team member, whilst two internal BDMs have been promoted to the role of regional account managers.
David Wheatley and Patrick Ogrigri have been promoted to regional account managers and will be looking after London and South Central, respectively.
George Gee is commercial director at Foundation Home Loans
Here we are, a new year and I always feel a sense of optimism about what is to come, but perhaps especially this year given the incredible challenges of 2020 and the hope with which we start 2021.
At Foundation, we believe we are particularly well placed for a strong year; our appetite to lend, our focus on key sectors and borrower needs, the commitment of our team, and the relationships we have managed to cement with advisers in recent times.
That said, I think it’s very difficult to look even more than a few months into the future, predominantly because of the stamp duty holiday deadline that is racing into focus.