Foundation Home Loans introduces large loan BTL product

The product will be available to both individuals and limited companies as well as portfolio and non-portfolio landlords with prior landlord experience and carries a maximum LTV of 65%.

It will also offer 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.

Andrew Ferguson, commercial director at Foundation Homes Loans (pictured above), said it had launched the product following feedback from its broker network.

“As with our existing products, the ICRs assigned to our new large loan product are no different,” said Andrew. 

“Foundation Home Loans is a specialist lender, available only through intermediaries and designed for clients with more complex needs. 

“It has also now launched its residential product range in addition to its established buy-to-let proposition.”