Financial Times - Competition hots up in holiday home loans
New mortgage deals for holiday home buyers, alongside low interest rates and currency swings in the eurozone, are providing a boost for Britons seeking second properties for leisure or lettings.
Market Harborough Building Society this week launched a new mortgage loan aimed at second home and holiday let buyers. The lender is offering a five-year discount of 1.5 per cent on its standard variable rate, which currently stands at 5.49 per cent.
Aaron Strutt, product manager at mortgage broker Trinity Financial, said holiday lets were generally classed as buy to let properties and very few lenders allowed owners to live there, even for a short period. “Market Harborough’s product provides a good halfway house.”
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
