As of 30th March 2022, Foundation Home Loans have expanded their closed panel of solicitors to transact all specialist property cases. For all specialist properties, including HMOs, large HMOs and multi-unit properties, brokers can now choose from a wider panel of legal firms with specific expertise in specialist property purchases and remortgages.

  • For HMO and multi-unit properties, brokers are now free to choose a firm from Foundation’s closed panel list to act on Foundation’s behalf, and dual representation is accepted (except in Scotland).
  • The Specialist Property closed panel is a smaller, closed panel within Foundation’s main solicitor panel which is managed by ULS, and consists of eight legal firms with branches across England, Wales and Scotland.
  • The new panel can be found at https://www.foundationforintermediaries.co.uk/media/2696/foundation-home-loans-solicitors-panel-closed-panel.pdf
  • The panel is also available where an applicant’s solicitor does not meet the solicitor requirements of the lender.
  • Changes to the broker portal are live from Wednesday 30thth March 2022, allowing intermediaries to select one of the new solicitors, on new HMO or Multi-unit DIP or full mortgage applications.
  • In the last month, Foundation Home Loans has launched both Green and Expat specialist property products ranges, and earlier this week, Foundation Home Loans launched a new Limited Edition ‘Fee assisted’ product for standard HMOs and Short term lets which comes with one free valuation, no application fee and a product fee of only £495.

For more information, please contact us.

Why use Foundation for your next BTL case?

Who for?

  • Experts in individual or limited company applications
  • Up to 4 directors & no personal guarantees needed for shareholders
  • Limited companies/SPV with complex structures
  • Shareholding can include other companies
  • Newly formed SPV’s and flexible deposit sources including Intercompany loans
  • No min income or employment/self-employment history
  • First time landlords considered
  • Ex-pats considered as individuals or limited companies

How much?

  • Up to 85% LTV & Loans up to 2m (on core range)
  • ICR of 125% for limited company borrowers and basic rate taxpayers
  • No limit to portfolio size, subject to maximum borrowing of £5m with Foundation
  • Portfolio in the background stress tested at 100%

What for?

  • HMOs: standard to 6 bedrooms, large up to 8 bedrooms and MUBs: up to 10 units
  • Short term lets in personal or SPV structures
  • Day 1 remortgages
  • Products without ERCs
  • Range of Green Products for properties with EPC rating A-C