We have recently made some positive changes to our holiday let mortgage product range offered throughout the UK, including the introduction of a 60% LTV tier.
Our existing 75% LTV 2-year variable and 5-year fixed rates have also been reduced, and our £75k-£750k and £750k-£2m pricing tiers have been combined to offer one product for loan sizes £75k-£2m.
The Cumberland’s Head of Commercial, Scott McKerracher, explains: “We are pleased to have introduced a 60% LTV tier which means our mortgage product offering is now even more attractive within the holiday let market. By combining our pricing tiers to offer one single product for loan sizes £75k-£2m, we have simplified our pricing structure. We hope these changes will be of significant value to our customers”.
Commenting on the current staycation trend, Scott adds:
“We’re seeing the staycation market continue to grow, with more investors seizing the opportunity to start up a holiday let business, or expand an existing holiday let portfolio. We continue to receive high volumes of appointments via our website, along with a steady flow of enquiries from brokers”.
At The Cumberland, we have specialised in holiday let lending for over 10 years, and our complete holiday let mortgage product range is available to customers throughout the UK, including some islands. Expat lending is also now available from selected countries.
Our tailored holiday let lending criteria allow us to consider cases such as occupancy restricted property and larger portfolios throughout mainland UK, and the isles of Anglesey, Arran, Mull, Skye, Lewis, Harris and Wight.
Find out more about our range of holiday let mortgage products here.