Solutions by Foundation reduces semi-commercial rates

Solutions by Foundation, the specialist buy-to-let brand of Foundation Home Loans, has reduced pricing on selected semi-commercial products by up to 0.20%.

One is available for expat borrowers and one for standard use, with rates now starting from 6.89%.

For semi-commercial (mixed-use) properties, 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 product, 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 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.”