Foundation Home Loans has increased its maximum residential loan to value (LTV) from 75% to 80%.

It has also launched new five-year products and a new offering for first-time buyers.

The products are aimed at those residential borrowers who have less than straightforward requirements, including those with credit blips such as defaults and CCJs, and who may have been turned down by high-street/mainstream lenders.

Launched as part of its F1 range for clients with credit blips who just miss out on mainstream mortgages, Foundation is offering five-year rates at up to 60% LTV – 3.49%; up to 70% LTV – 3.69%; up to 75% LTV – 3.99%; and up to 80% LTV – 4.39%. It has also added five-year rates for both its F2 and F3 ranges.

The residential range now has specific product options for first-time buyers with Foundation offering a two-year fixed-rate product at 4.09% and a five-year fixed-rate product of 4.49% – both up to 80% LTV.

Jeff Knight, director of marketing at Foundation Home Loans, said: “Recent feedback from advisers suggests they’re seeing a growing number of clients who are not fitting the criteria requirements of the high-street and mainstream lenders.

“We therefore wanted to ensure they have a solution to help them and their clients. The increase in LTV to 80% and the introduction of new five-year options is a return to the residential proposition we offered pre-lockdown. Plus, our new products for first-time buyers ensures that the lifeblood of the market – new owner-occupiers – also have options if they are not able to secure a mortgage via the high street.

“We know that residential cases can be increasingly complicated and have their own complexity, which is why our regional account managers are on hand to discuss these client needs with advisers and provide the solutions required. This is because we believe this relationship between regional account manager and advisers is crucial in securing the right product solution, first time and every time.”