There will be very little change to the lender’s approach and underwriting criteria.
Foundation Home Loans has confirmed that it will continue with a ‘business as usual’ approach ahead of the PRA changes coming into effect on 30 September.
There will be very little change to the lender’s approach and underwriting criteria, however background portfolios must have a minimum aggregate portfolio LTV of 75%, and a minimum aggregate rental cover ratio of 125%, stressed at 5.5%.
Jeff Knight (pictured), director of marketing at Foundation Home Loans, said: “Portfolio landlords already represent around 50% of our business, so unlike other lenders, this is very much business as usual for us and our intermediary partners.”
