Furness for Intermediaries launches holiday let mortgages
Furness for Intermediaries has launched two 5-year fixed rate products for its holiday let range.
The products have a pay rate of 3.34% for cases up to 65% loan-to-value (LTV) and 4.49% for cases up to 75% LTV. Both products have a £1,250 product fee.
Alasdair McDonald (pictured), head of intermediaries, said: “As an established holiday let mortgage provider, we are always looking for ways to improve.
“We have listened to the request from our broker partners for 5-year fixed rate products to complement our range, and this coupled with our flexible approach to underwriting means we have a very attractive proposition.”
Customers can use their holiday-let property for up to 90 days per year for their own personal use, something that some lenders don’t allow.
Furness looks at both gross holiday rental income as well as personal income when calculating affordability.