Foundation Home Loans has launched a large loans product, facilitating larger buy-to-let loans of up to £1.5m.
The product, available to both individuals and limited companies with prior landlord experience, carries a maximum LTV of 65%.
The product offers a 5-year fixed rate starting at 2.99%, with an interest cover ratio (ICR) of 125% x pay rate for limited companies and 145% for individuals.
Andrew Ferguson, commercial director, Foundation Home Loans, said: “Having listened to our broker network, we have launched a new buy to let product with the capacity to take on larger loans as requested.
“As with our existing products, the ICRs assigned to our new large loan product are no different.”
The product is available to portfolio and non-portfolio landlords.