Connect Mortgage Club (CMC) has added Foundation Home Loans (FHL) to its panel of buy-to-let lenders.
FHL is to launch into the buy-to-let market on 24 February, targeting ‘amateur’ and semi-professional landlords. It is a lender brand of Paratus AMC, a mortgage asset management company and servicer.
It will have no minimum income requirements, and some adverse credit will be accepted. There are no minimum employed or self employed periods, while fixed and discounted tracker products will start from 3.75%.
Liz Syms, managing director at Connect Mortgage Club, said: “We are delighted to be able to offer our network members and the wider broker market access to these excellent new buy-to-let products. Clients often fail to meet a lender’s criteria in just one key area and FHL have tried to cater for this within their flexible lending model. Slight case complexities are becoming the norm in today’s mortgage market and intermediaries require more competitive finance options in this area for their clients.
“By placing more emphasis on human underwriting expertise and not credit scoring, I am confident that FHL will be warmly received by the broker community and we are delighted to be one of the few distributors currently able to promote these great products.”
Paul Brett, business development director at Foundation Home Loans, added: “We are very excited about our upcoming launch. Through our products and diverse criteria we want to freshen up the market for intermediaries and listen to underserved needs of their investor clients.
“We have worked hard to set up a small number of quality distributors and CMC are ideally placed to help us promote these new products with proven expertise in buy-to-let finance. As it is important to us that we are able to offer the best possible service to our supporting brokers.”
