Mortgages

Swansea BS cuts BTL and holiday let rates by up to 0.80%

Rozi Jones
|
29th June 2020
Swansea Laura Cox, Richard Miles and Lloyd Williams
"As lockdown now eases, we are seeing an uptake in enquiry levels especially around the more specialist mortgage areas such as holiday let and self-build"

Swansea Building Society has reduced rates across its buy-to-let and holiday let mortgage ranges.

The Society has reduced its rates from 4.25% to 3.55% variable up to 60% LTV and from 4.75% to 3.95% variable up to 70% LTV.

It has also changed the calculation used to stress test the mortgage payment to reflect the tax status of the main applicant.

The Society will consider income from Airbnb lettings and will also accept projected income and will consider unusual properties on both buy-to-let and holiday let cases.

Alun Williams, chief executive of Swansea Building Society, said: “We are proud that we have remained open for both our savings and mortgage customers through the crisis, supporting our members in every way we can.

"As lockdown now eases, we are seeing an uptake in enquiry levels especially around the more specialist mortgage areas such as holiday let and self-build and we are delighted to be able to lower our rates on buy-to-let and holiday let mortgages in particular.”

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