The Mortgage Lender (TML) has expanded its buy-to-let (BTL) range with the launch of a holiday and short-term lets product.
Holiday and short-term lets mortgages are available to the whole of the market for individual landlords and limited companies with a minimum of one BTL property in their current portfolio for 12 months.
Rates for a 5-year fix start at 4.16% and 3.67% for a 2-year fix at 75% loan-to-value (LTV).
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The product is available for purchases and remortgages with maximum loan value of £1m.
There are no minimum income restrictions, lending is based on a sustainable assured shorthold tenancy (AST) figure and affordability available from 125% of payrate for a 5-year fixed.
Steve Griffiths, sales and product director at TML, 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.”