"Recently we’ve seen both push and pull factors lead to the increasing attractiveness of holiday let investment."
The product is available at 2.69% up to 60% LTV or at 3.49% up to 75% LTV.
The Cumberland’s tailored holiday let lending criteria allow it to consider occupancy restricted property and larger portfolios throughout mainland UK and the isles of Anglesey, Arran, Mull, Skye, Lewis, Harris and Wight.
The Society will lend up to £2m on an individual transaction and up to £3m aggregate borrowing across a portfolio of properties.
Grant Seaton, senior business lending manager at The Cumberland, commented: “Recently we’ve seen both push and pull factors lead to the increasing attractiveness of holiday let investment.
“It’s a niche that comes with its own challenges and quirks, and that’s why we feel it’s important to provide mortgage products that are specifically designed for holiday let investors.
“We’re committed to providing a tailored and relevant set of products that support holiday let investors across the UK, and the introduction of our two–year fixed product meets a need in the market, while allowing us to provide a broader range of options to borrowers.”
