"Advisers will be looking for options for remortgaging borrowers, especially those who may now miss out on the high-street due to credit issues sustained over the term of their last mortgage."
- Tom Jacob, director of product and marketing at Foundation
The ‘Residential’ brand of Foundation Home Loans has introduced new limited edition remortgage-only two and five-year fixed rate products.
Available within the Residential by Foundation core F1 range - for those borrowers who just miss out on the mainstream due to historical credit blips – the new products are available up to 80% LTV at 5.84% fixed for two years and 5.64% fixed for five years.
Each product comes with a reduced £595 product fee plus £350 cashback upon completion in addition to a free standard valuation and no application fee.
The new products follow recent rate cuts to other products within Residential by Foundation's F1 range plus those for F2 borrowers – those who have recent credit blips.
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “There are a significant number of existing mortgages due to mature between now and the end of the year, and advisers will be looking for options for remortgaging borrowers, especially those who may now miss out on the high-street due to credit issues sustained over the term of their last mortgage.
“These new fee-assisted, remortgage only limited edition products provide both two and five-year fixed rate mortgages at competitive pricing, available up to 80% LTV, and are part of a growing residential range which includes options for professionals, key workers, joint borrower sole proprietor, and green mortgages, to name but a few.
“This is clearly an important time for the mortgage market as we enter the final quarter of the year, with existing borrowers seeking to find the right solution on renewal, and advisers seeking to tap into a strong remortgage market that can provide them with a range of ancillary advice opportunities.
“For those advisers who are looking for specialist residential options, please contact the Foundation sales team to see how we can support you in this growing sector.”
