‘Solutions by Foundation’ reduces rates on semi-commercial products
02 May 2024
‘Solutions by Foundation’, the specialist buy-to-let brand of Foundation Home Loans, the intermediary-only specialist lender, has today (2nd May 2024) reduced pricing on selected semi-commercial products by up to 0.2% - one is available for expat borrowers and one for standard use, with rates now starting from 6.89%.
For semi-commercial (mixed-use) properties - 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’ has also launched a new two-year, fixed-rate limited edition, exclusively for expat borrowers financing a standard buy-to-let property type, available up to 75% LTV with a rate of 6.64% and a fee of 1.5%.
The ‘Solutions by Foundation’ brand offers broad and specialist criteria and products for an additional layer of specialist buy-to-let needs, covering multi-occupancy properties, semi-commercial (mixed-use) property and expat borrowers.
Tom Jacob, 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 two 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.”
For more information on Foundation Home Loans, please visit: www.foundationforintermediaries.co.uk
