Foundation Home Loans has introduced new buy-to-let standard HMO, large HMO and multi-unit block products.

The intermediary-only lender has launched the products for exclusive use by its packager partners.

The deals are both two-year variable offerings and priced at 3.34 per cent up to 65 per cent LTV or 3.69 per cent up to 75 per cent LTV for standard HMOs.

The lender offers the products for large HMOs with a maximum of eight bedrooms and MUBs with a maximum of 10 units. The rates for these are 3.44 per cent up to 65 per cent LTV or 3.79 per cent up to 75 per cent LTV.

Foundation Home Loans director of marketing Jeff Knight says: “We’re in constant dialogue with our packager partners and will seek to respond quickly where possible to present solutions for the demand they are seeing in the market.

“That being the case, we’re able to launch these exclusive products for packagers which provide further product options for landlord borrowers seeking either standard HMO or large HMO/MUB finance.

“We’re also conscious that the circumstances for landlord borrowers during 2020 and, for the foreseeable future, might be very different to what they could be in 12 to 18 months’ time. This is why these variable products come with no ERCs which will allow landlord borrowers, should things change in the future, to potentially remortgage at a later date with no charges to pay.

“We’ll be monitoring take-up of these products closely and would hope that, if they are seeing strong demand, we can then roll them out to the wider market.”