Foundation Home Loans has announced several key criteria changes to its specialist residential range.

The intermediary-only lender indicated it was targeting its criteria to support cases that advisers may see as “less straightforward or extraordinary”, following feedback from adviser, distributor and packager partners.
 
Foundation suggested these cases include self-employed and employed clients who don’t fit high street or mainstream lenders, who have unusual income, multiple incomes, high commissions or bonus payments, or those with credit blips.
 
The criteria changes follow a recent update to Foundation’s specialist products, which included raising its LTV from 75% to 80%, the launch of new five-year deals, as well as a new offering for first-time buyers.

Foundation director of marketing, Jeff Knight, said: “Foundation is well known within the buy-to-let sector and becoming increasingly well known for our residential solutions. The market is delivering a far greater number of specialist residential enquiries to adviser desks, and we want to be in a strong position to help, especially in terms of those cases which may be beyond the ordinary.

“We have a competitive range of products, offering loans up to 80% LTV, a first-class sales team who are here to answer adviser enquiries, and with these criteria changes, we believe we are broadening the reach of our residential offering to support an increasing demand.”

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