Foundation Home Loans confirms portfolio landlord commitment


Foundation Home Loans has confirmed that it will keep lending to portfolio landlords when new PRA underwriting standards come in from 30 September.

There will be little change to the firm’s current criteria. Portfolio landlords are currently around 50 per cent of FHL’s business.

Portfolio landlord applications must have a maximum aggregate portfolio LTV of 75 per cent.

This is calculated across the whole portfolio, including unencumbered properties.

Minimum rental cover ratios are 125 per cent, stressed at 5.5 per cent.

 Brokers can upload details of landlord portfolios using an online spreadsheet.

As before, borrowers may have unlimited background portfolios and finance up to £2m with Foundation.

Foundation Home Loans director of marketing Jeff Knight says: “Our research, undertaken amongst intermediaries and portfolio landlords, highlighted a need for a proposition that is simple and pragmatic – something that has always been at the heart of our approach.

“Therefore, we have not had to change much at all and will continue to provide a straightforward proposition to intermediaries.”



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