Foundation Home Loans offers a new residential mortgage range.

Foundation Home Loans is better known for its buy to let mortgage ranges rather than residential. However, it is expanding into the residential market and introduced a new tiered range.

Which tier would be most appropriate for you depends on your credit history.

The first tier is for borrowers who have not been affected by adverse credit scores for at least three years. Mortgage rates in this range start from 2.24%. However, bear in mind that arrangement and application fees apply.

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The second tier has products designed for applicants who have had no mortgage arrears or CCJs within the last two years. Minor problems could be acceptable, depending on their nature. Mortgage rates are higher but underwriting is done on a case by case basis.

The third tier is aimed at those with recent credit problems and has the highest mortgage rates. They are designed to help improve your credit score and get you back on track financially.

The introduction of the range comes in response to broker feedback. If you come to us and we can’t find exactly the right solution for you requirements, we tell the lenders. The nature of our relationship with them means they listen to us – as FHL demonstrates.

If you are struggling with a difficult credit history, Deal Direct can offer you practical advice on how to begin improving it today. We can also research the market for you to find you a lender who both understands your situation and is prepared to be flexible.

To discuss your requirements more fully, chat with one of our team online or call us.

Speak to us now on 0800 048 8828.

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Article published: Thursday, July 05, 2018
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