Foundation Home Loans, launches its BTL proposition today exclusively through the intermediary market.
Foundation Home Loans is the new business trading style of Paratus AMC Limited (“Paratus AMC”) which already manages over 27,000 live mortgage accounts (£3bn in value) and has originated over 420,000, including some 70,000 BTL accounts.
Foundation Home Loans will be marketing its products through nine of the UK’s most respected distributors, who will be responsible for handling enquiries, providing broker support and application processing.
Complete FS will be one of the selected packager distributors
Tony Salentino, Director of Complete FS commented:
“Complete FS is an acknowledged leader in the BTL sector for advisers and being part of the launch plans for Foundation Home Loans is a testament to the value that a new lender like Foundation Home Loans puts on its choice of partners. We believe that our introducers will be pleased with the options that Foundation Home Loans brings to the market. Landlords of all types now have a strong new resource in Foundation Home Loans with a well thought through product mix and plenty of initiatives in the pipeline.”
Main products features include: –
- Prime tracker rates from LIBOR + 3.19%
- Prime Fixed rates from 3.99%
- Historic light adverse accepted
- No minimum income required
- LTV to 75% prime and 70% with light adverse
- Fees can be added to max 80% LTV
- To max age 85
Hans Geberbauer, Chief Executive Officer of Foundation Home Loans and Paratus AMC, said:
“We believe the BTL market is going to prove to be a tremendous growth area in 2015 and beyond. With the strength of our balance sheet, our excellent reputation in the capital markets and the knowledge of the BTL market we have built, based on over 70,000 BTL cases, past and present, we are in an excellent position to offer the market not only strong products but also, more importantly, a sustainable and realistic proposition across the sector.”
“We will be a lender providing a consistent and transparent service and develop a strong and trusted relationship with the intermediary market through our partners. Foundation Home Loans is in the unique position of entering the market with an established, profitable platform, 120 experienced staff and unrivalled understanding of how BTL loans perform.”
According to Paul Brett, Director of Business Development at Foundation Home Loans, the new partnerships are hugely important.
He said, “The intermediary market has proved beyond any doubt that it is the most efficient and cost effective way through which lenders can market their products. For new propositions like ours, the role of professional distributors as strategic partners is even more important. They provide us with a tried and tested distribution channel advisers know and trust. Their expertise will allow us to build our business and tune our offering thanks to their input, while at the same time ensuring that introducers are provided with the best service for their clients.”