"The demand for holiday buy to lets remains strong and the addition of a fixed rate product complements our existing discounted product to give customers more choice."
The two-year fixed rate is available at 3.49% with a £199 application fee and £1,299 completion fee.
The Melton’s holiday let range has a lower interest coverage ratio calculation than the standard product range at 130% of the mortgage payment, calculated at a stressed rate of 5.5%.
There’s no upper age limit and the Society will accept first-time buyers, first-time landlords and non-owner occupiers, with a minimum income requirement of £25,000 which can be shared between joint applicants.
The Society also offers business, regulated family and consumer buy-to-let products up to 75% LTV.
Dan Atkinson, head of intermediaries at the Melton, said: “The demand for holiday buy to lets remains strong and the addition of a fixed rate product complements our existing discounted product to give customers more choice.
“Our flexible criteria combined with manual underwriting makes our holiday buy to lets an attractive proposition for savvy investors looking to make the most of the staycation boom.”
