"As we head towards a summer with most people looking to holiday in the UK this year, the popularity of staycations is likely to increase demand in the holiday let sector."
The new products include a five-year fixed rate and a three-year discounted rate, which are available across England and Wales.
For affordability, The Mansfield takes an annual average of 70% of the low, mid and high season rental income, after agent letting fees, when assessing the Interest Coverage Ratio. It will also consider top slicing as part of the affordability assessment.
Head of mortgage sales, Andy Alvarez, commented: “As we head towards a summer with most people looking to holiday in the UK this year, the popularity of staycations is likely to increase demand in the holiday let sector. For landlords already operating in this sector looking to expand their portfolio or for those considering their first holiday let, our flexible approach has a lot to offer.
"Whether it’s slightly unusual property types, offering real character, or quirky circumstances that still represent common sense opportunities, we can help brokers and their clients unlock their potential and we’re really looking forward to increasing our support for this market.”
