Mortgages

The Mortgage Lender launches holiday and short term lets product

Rozi Jones
|
21st July 2021
house mortgage overseas beach holiday
"For established landlords and investors this segment of the market provides an attractive route to diversifying their property portfolios."

The Mortgage Lender has expanded its buy-to-let range with the launch of a holiday and short term lets product.

The product is available to the whole of the market for individual landlords and limited companies with a minimum of one buy-to-let property in their current portfolio for 12 months.

Rates start at 3.67% for a two-year fixed rate at 4.16% for a five-year fix at 75% LTV.

The new product is available for purchase and remortgage with a maximum loan value of £1,000,000. There are no minimum income restrictions, lending is based on a sustainable AST figure and affordability available from 125% of payrate for a five-year fix.

Steve Griffiths, sales and product director at The Mortgage Lender, said: “The holiday and short term rental market in the UK has been particularly buoyant for a number of years, but especially so since the pandemic cancelled a lot of people’s plans for holidays abroad.

“For established landlords and investors this segment of the market provides an attractive route to diversifying their property portfolios.”

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