Saturday, May 28, 2022
Finance

Foundation Home Loans launches new product range

Home Loans

These new products – available on a capital and interest repayment basis only – all come with one free standard valuation

The ‘Green ABC+’ product range is available for borrowers either purchasing or remortgaging a property with an EPC rating of between A and C, and is available as part of Foundation’s F1 and F2 product ranges.

Available up to 85% LTV, Foundation offers discount rates with no early repayment charges starting at 2.99% in the F1 tier and 3.24% in the F2 tier, as well as two-year fixed rates starting at 3.84% in the F1 tier and 4.09% in F2.

These new products – available on a capital and interest repayment basis only – all come with one free standard valuation, and also benefit from reduced product fees of £595 for fixed rates and £1,295 for discounts.

Foundation said the new products, particularly the introduction of options for F2 borrowers, broaden the availability of green-focused mortgages to residential borrowers based on their credit history and reduced upfront costs.

George Gee, commercial director at Foundation Home Loans, said: Green mortgage options for residential owner-occupiers are a key part of our product offering and we are very pleased to be launching these new two-year fixed and discount product options.

This is the first time we have offered a discount product within the ‘Green ABC+’ range and it is also the first time we have broadened the availability out to F2 borrowers, meaning more potential homeowners can secure mortgage rate benefits as a result of purchasing an energy-efficient property or having improved the EPC level of their existing property, he said.

He said: Our aim with these products is to incentivise and reward borrowers to help improve the overall energy ratings of the UK’s property stock and to provide a range of mortgages which promote far greater efficiency in this highly important area.

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