Our frequently asked questions

Foundation Home Loans | Our FAQs

Here you can find answers to frequently asked questions.

    Insurance

  • What is an acceptable buildings insurance schedule?
  • How can I contact the Foundation Home Loans insurance team?
  • What should I do if I need to make a claim on my buildings insurance arranged through Foundation Home Loans?
  • What happens to my insurance when the property is taken into possession?
  • What is a financial interest only policy?
  • Can I arrange my own buildings insurance?
  • What happens if I don’t have buildings insurance?
  • Why have I received a letter requesting a copy of my buildings insurance schedule?
  • Payments

  • I can’t make my payments this month – what can I do?
  • Do you offer payment holidays?
  • Why has my monthly payment increased?
  • Will cheques be re-presented if the payment is returned unpaid?
  • Will you try and collect my Direct Debit again?
  • My Direct Debit hasn’t collected – why?
  • Can I change my payment date?
  • Can I change my Direct Debit details?
  • How can I set up a Direct Debit?
  • How can I make payments to the mortgage?
  • Your Mortgage

  • I have a Buy to Let Mortgage. Is there a specified form of Tenancy Agreement that must be used when letting the property?
  • I have a Buy to Let Mortgage. Can I rent the property to a family member?
  • Can I move my mortgage to another property?
  • Why is my current balance higher than the amount of the advance?
  • I have an Interest only mortgage and do not have a repayment vehicle in place to redeem the mortgage at the end of the term – what should I do?
  • Can I change my mortgage product?
  • I have a Repayment mortgage but my balance has hardly reduced – why is this?
  • Can I make a Lump Sum Overpayment?
  • Is my interest calculated on a daily or monthly basis?
  • How often is my interest rate reviewed?
  • Can I change the repayment method of my mortgage?
  • Can I change the term of my mortgage?
  • What is the Standard Variable Rate (SVR)?
  • What is the Bank of England Base Rate?
  • What is the LIBOR rate?
  • How are my fees and charges repaid?
  • What should I do if I am experiencing problems making my monthly payments?
  • How do I find out what charges could be applied to my account?
  • Can I request a copy of my mortgage statement?
  • Can you send me a copy of the deeds to my property?
  • Can I borrow more money against my property?
  • Can someone visit me to discuss my circumstances?
  • How do the changes to the Support for Mortgage Interest benefit affect me?
  • Redeeming your Mortgage

  • Am I due a refund of my Mortgage Exit Administration Fee (MEAF)?
  • What will happen to my deeds when my mortgage is repaid?
  • My account is redeemed but it is still showing I have a mortgage with you?
  • What will happen if I pay less than required on redemption?
  • What will happen if I pay too much on redemption?
  • Will I incur any charges to redeem my mortgage?
  • Do I need a Solicitor to redeem my mortgage?
  • How do I find out the amount owed to redeem my mortgage?
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