Foundation Home Loans, the intermediary-only specialist lender, has launched a new Extra range of products within its F2 BTL range, covering more unusual properties and landlord borrower needs.
Foundation’s F2 BTL proposition is available for both portfolio and non-portfolio landlord borrowers with some historic credit blips, and the new F2 Extra products cover extra-large HMO properties (nine bedrooms or more), holiday lets, extra-large portfolios and extra-large loans.
Following a successful pilot, Foundation has refined the offering, and is now accepting applications on these products from all advisers.
Foundation is also no longer restricting aggregate portfolio borrowing with the lender to £5m.
Tom Jacob, director of product and marketing at Foundation (pictured above), said: “These new product options allow us to broaden the BTL mortgage choice to advisers and their landlord borrower clients, and are specifically designed for landlord requirements or property types beyond those catered for in the specialist market.
“We believe this opens up wider finance options in these spaces for landlords to utilise in either purchasing or remortgaging, and we believe they will be particularly relevant for those who might ordinarily have to use more costly lending options.
“As advisers will know, we take an individual approach to underwriting of more complex BTL cases and have the ability to assess the whole case on its merits, considering the landlord’s entire property portfolio as required.
“Applications received on these F2 Extra products will be managed by a dedicated team of experienced underwriters familiar with complex property types and niche areas, and we will be maintaining our strong service levels in this area.”
