Foundation Home Loans has announced a new relationship with MCI Club.
The lender is joining the MCI (Mortgage, Compliance & Insurance) Club lender panel and adviser member firms will be able to access Foundation’s range of residential and specialist buy-to-let products.
MCI Club is part of the eKeeper Group and partners with Auxilium to offer a complete mortgage, CRM and protection proposition. It works with mortgage intermediaries providing access to lenders like Foundation, as well as insurers and product providers while offering market-leading terms.
Foundation’s residential range is aimed firmly at those borrowers who narrowly miss the requirements of mainstream high-street lenders offering both two and five-year fixed-rate products, from 65% LTV moving up to 90% LTV.
At the end of last month, the lender announced a series of criteria enhancements which opens up its residential mortgages to more borrowers including those with accidental, historical blips, and those with credit blips in the last year.
Foundation’s range of specialist buy-to-let products including solutions for portfolio and limited company applicants. It’s buy-to-let criteria currently includes 80% LTV for those who are purchasing or refinancing through a limited company, an ICR of 125% of the pay rate for five-year fixed rates, no maximum client age, acceptance of newly-incorporated limited companies, and a maximum loan size of £1.5m.