It also launches new expat-focused offering
Solutions by Foundation, the specialist buy-to-let brand of Foundation Home Loans, has announced a reduction in pricing on selected semi-commercial products by up to 0.2%.
The new rates are now available for expat borrowers and for standard usage, starting from 6.89%.
The products target semi-commercial properties, which combine residential and commercial elements. The lender stipulates that both residential valuation and rental income must each exceed 60% of the property’s total value.
Solutions by Foundation has also introduced a new product – a two-year, fixed rate limited edition option for expat borrowers. The product is applicable to standard buy-to-let properties and offers up to 75% loan-to-value (LTV) at a rate of 6.64% with a 1.5% fee.
Details of all Solutions by Foundation products can be viewed on its updated product guide, available online through the lender’s website.
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“Semi-commercial properties are a key part of the specialist buy-to-let marketplace,” said Tom Jacob (pictured), director of product and marketing at Foundation Home Loans. “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.”
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