Solutions by Foundation reduces rates on semi-commercial products

Solutions by Foundation, the specialist buy-to-let (BTL) brand of Foundation Home Loans, has reduced pricing on selected semi-commercial products by up to 0.2%, with rates now starting from 6.89%. 

For semi-commercial (mixed-use) properties – with residential and commercial components combined – the lender requires a residential valuation and rental income both in excess of 60% of the total of the property.

Solutions by Foundation also launched a 2-year, fixed-rate limited edition, exclusively for expat borrowers financing a standard BTL property type, available up to 75% loan-to-value (LTV) with a rate of 6.64% and a fee of 1.5%.

Tom Jacob (pictured), director of product and marketing at Foundation Home Loans, said: “Semi-commercial properties are a key part of the specialist buy-to-let marketplace and it’s important we continue to offer competitive pricing and product options in this area, not just for UK-based borrowers but also expats who are increasingly interested in the opportunities these properties provide.

“In addition to the semi-commercial changes we are also pleased to announce this specific new expat product on a 2-year fixed-rate basis.

“‘Solutions by Foundation’ was specifically set up to look at a broader array of specialist buy-to-let properties and landlords, and we will continue to look at and provide advisers with the product solutions they need in these and many other areas.”