I'm currently in my first year of a degree course at Chelsea and I wouldnt agree with the above poster that there's more of a chance that you'll be able to do a UAL degree course if you've done your foundation there, during my foundation when i came to look around chelsea, my head of course told us that it's actually detremental to your chances of getting on a degree course at ual if it's where you're doing your foundation in a way, because they usually only accept a couple of applicatants onto each course from UAL foundations, so if there are a lot of people on your foundation wanting to go onto a degree course at ual your amoung extremely high competition. As for my course there are only 3 people from the foundation at chelsea and i think only 3 others from other ual foundations.
I did my foundation at bucks new uni in high wycombe, just outside west london, purely because it's close to where i live, but it is also one of the top uni's for art foundations in the country, 98% get into their first choice uni, i dont know one person i knew on my course there that didnt get into their first choice. The uni is an ugly place and isnt good for academic courses, but the art side is very good, the studio space and opportunies are good, there are always tutors about to help you but it's not really strict and you dont have to always be there if u find it easier to work at home, and they help you no end if uni applications.
When it comes to choosing a uni, chose somewhere with good studio space, there isnt that at chelsea and its a nightmare, its ridiculous.