"A holiday rental home can be a great investment and our expanding holiday let mortgage range can help with the purchase of this type of property."
Principality Building Society has launched four new discount holiday let products.
The new range includes two and five-year products from 2.45% at 60% LTV up to £750,000 and 3.00% at 75% LTV up to £500,000. All products include a free standard valuation, free legals and have no product or commitment fees.
Helen Lewis, national account manager at Principality Building Society, said: “We recognise that a holiday rental home can be a great investment and our expanding holiday let mortgage range can help with the purchase of this type of property.
“The introduction of discount holiday let products can potentially enable customers to benefit from the preferential rate while tracking our standard variable rate. We also calculate affordability based on the property’s weekly rental, taking an average over a 30 week period (including high, mid and low seasons) to calculate the rental income. We believe this supports our broker partners in offering products that suit their clients’ requirements.”