Paradigm Mortgage Services has announced today that it has added Foundation Home Loans to its lender panel.
According to the press release, as of today, Paradigm member firms will be able to access Foundation’s range of buy-to-let products, which include both limited company and personal products available at the same rates.
Other key features of the Foundation proposition include no minimum income requirements, the acceptance of studio flats less than 30 square metres, prime and light adverse products, first-time landlord products, fixed and tracker rates, no minimum period of employment or self-employment, and no personal proof of income required.
The lender also offers online submission of business through its online portal, TED. Every Paradigm member firm has been pre-registered with TED and will receive log-in details to create an instant account.
John Coffield, Head of Paradigm Mortgage Services, commented: “Foundation Home Loans has made a significant impact in the buy-to-let sector since it launched last year and we are very pleased to add it to the Paradigm lender panel. There are a number of key criteria differentiators offered by Foundation which will I’m sure interest our members including the hugely encouraging fact that limited company products come with no rate premiums compared to personal products.
This undoubtedly recognises the huge changes taking place in the buy-to-let sector and the fact many landlord borrowers are utilising limited company vehicles in order to purchase and house their properties. The fact these borrowers do not have to pay considerably more for their finance with Foundation is a very welcome development and one that shows this is a lender leading the marketplace. We believe our members will find much to interest both them and their clients within the Foundation proposition and we would urge them to engage with the highly experienced team in place there.”
Paul Brett, Business Development Director at Foundation Home Loans, added: “We are delighted to have been appointed to Paradigm’s lending panel. Foundation Home Loans is here to help with the buy-to-let needs of all of Paradigm’s members. We have built our strategy around strong and robust products, giving brokers a consistent product offering. My colleagues and I look forward to working with Paradigm and its members.”