Foundation Home Loans has launched a new large loan 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%.

It offers a five-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.

The product is available to portfolio and non-portfolio landlords.

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.”