Foundation Home Loans has announced a new partnership with packager firm, The Mortgage Trading Company.

The intermediary-only specialist lender revealed it will join the lender panel of The Mortgage Trading Company, who will be able to package cases by having access to Foundation’s range of buy-to-let (BTL) mortgage products – which includes solutions for portfolio and limited company applicants.

The partnership comes after Foundation cut rates by up to 20 basis points earlier this month on its individual and limited company fixed-rate product range for both single tenancy properties, as well as large HMOs and short-term lets.

Foundation head of national accounts, Grant Hendry, said: “We continue to broaden the number of packager firms we work with and we’re very pleased to announce this new relationship with Tony and his team at The Mortgage Trading Company.

“The business has a wealth of experience, and is very well-respected in the packager community, and we’re sure advisers will see the benefit of using their service covering more complex client options in the specialist BTL market.”

The Mortgage Trading Company works with lenders to provide solutions for advisers’ more complex mortgage enquiries, and packages in several other product areas such as residential, second-charge, commercial and bridging finance.

The group said it expects the partnership with Foundation to utilise several different areas of its criteria – involving no minimum income requirements, borrowers only needing to have been self-employed for three months, and only one month’s letting experienced being required to have access to its range of HMO product options.

The Mortgage Trading Company director, Tony Crossley, added: “‘We are delighted to be adding Foundation to our lender panel. We are only interested in extending our current panel when a new lender has criteria that adds value to our current offering. We are excited at the prospect of working with Foundation.”

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