The changes are intended to provide more flexibility to landlord clients and include:
- assessing missed payments on credit cards alongside simple communication problems
- widening the products available to first-time landlords
- products for clients with two, three or four missed revolving credit payments in the past 24 months
A number of rate reductions have also been introduced across the BTL range.
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Five-year fixed rates are now priced from 2.89% and the remortgage specials have also had their £125 fee waived in addition to retaining the free valuation and £250 cashback.
In addition, end dates have been rolled on to 30th April of their respective year, offering added value.
“We have seen significant growth across our BTL range in 2019, particularly in terms of servicing portfolio landlords and developing our limited company offering,” said Jeff Knight, director of marketing at Foundation Home Loans.
“We recently enhanced our residential criteria and are now doing the same for BTL to ensure we continue to provide more solutions to more intermediaries in 2020.
“So, if intermediaries are looking for a home for their more complex buy-to-let cases, it’s solution found at Foundation.”