The summer is in full swing and holiday getaways are growing in popularity with many of us planning a trip soon.
Keeping pace with demand Leeds Building Society is refreshing its holiday let mortgage range and cutting rates by 0.3 percentage points.
The society is unusual in offering a range of mortgages specifically for the holiday let market and all these products come with a free valuation and fees assisted legal services.
“We have particular expertise in holiday let mortgages, which are a growing market as more people look to enjoy a ‘staycation’ in the UK,” said Martin Richardson, who is general manager of business development at Leeds.
“It’s not difficult to understand why interest in holiday home ownership is on the rise. When you think that a main family holiday, with maybe a shorter break at another time of the year, could cost more than £3,000 – you could fund a holiday let mortgage for the same amount, and receive income from letting the property for the weeks you’re not using it,” Richardson adds.
The new holiday let deals include:
- Two year fixed rate mortgage at 2.64 per cent up to 60 per cent loan-to-value (LTV), with a £999 fee;
- Two year fixed rate mortgage at 3.14 per cent up to 70 per cent LTV, with a £999 fee;
- Two year fixed rate fees assisted mortgage at 3.04 per cent up to 60 per cent LTV, with a £199 fee.
In addition, the society is reducing the rate of its two-year discount holiday let mortgage to 2.59 per cent, which is available up to 70 per cent LTV, with a £999 fee.
