Foundation Home Loans’ specialist BTL brand has reduced pricing by up to 20bps on selected semi-commercial products.
The products which have seen rate reductions include the lender’s standard and expat borrower options, with rates now starting from 6.89%.
The firm 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%.
For semi-commercial properties, the lender requires a residential valuation and rental income both in excess of 60% of the total of the property.
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “Semi-commercial properties are a key part of the specialist BTL 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 BTL 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.”
