The Mansfield Building Society has reintroduced its holiday let mortgage product with a three-year discounted rate product to 70% LTV.
The society offers flexible criteria for holiday let landlords, including those with unusual property types, as well as those wishing to use earned income or personal wealth to support affordability.
The holiday let product is available with the following features:
- Three-year discounted variable pay rate 3.05% (2.30% below SVR)
- £199 application fee
- £1,800 completion fee
- 3% ERC during the discounted period
Paul Lewis (pictured), the Mansfield’s national development manager, said: “As a lender that supports the buy-to-let sector with an extensive range of mainstream and niche products, we’re pleased to add holiday lets back into our range which also includes expat, family and limited company buy-to-let.
“We’re really keen to ensure that we help brokers as much as we can as the mortgage market begins to recover and lockdown measures begin to ease because it’s brokers who have the expertise to maximise the potential for borrowers.
“The stamp duty concessions, introduced by the Chancellor, until 31 March next year provide an added incentive for landlords to act sooner rather than later. With initiatives like these I’m sure brokers and their clients will look to take advantage of the favourable terms and secure future investment whilst the opportunity exists.”