Foundation Home Loans has secured a new £1.25 billion funding line to continue offering its core range of residential and buy-to-let mortgages.
The new syndicated, warehouse facility is supported by six lenders and provides financing for the lender over the next five years.
George Gee (pictured), managing director – commercial at Foundation Home Loans, said: “We are very pleased to be able to secure this significant, long-term financing to support our new core brands. It will allow us to continue developing our product proposition and resources while significantly growing the business in order to support our intermediary partners and their borrower clients, specifically those with specialist mortgage needs.
“The warehouse acts to rationalise and simplify the group’s funding structure and will sit alongside the well-established Twin Bridges and Brants Bridge public RMBS programme.”
The firm was advised on the financing by Matt Blake, of George Street Advisory, who added: “I am delighted to have supported Foundation Home Loans on the development of its funding plan and the delivery of this marquee transaction.”