Leeds launch 'Holiday Let' mortgage range
Leeds Building Society has launched a range of Holiday Let mortgages designed to fill the large gap in the market for this type of finance.
Surprisingly, many lenders are not happy to offer Holiday Lets mortgages despite the often large rental returns and investment growth potential. Demand for Holiday Let properties has increased significantly over the last few years and according to Travelodge two thirds of Britons will take a summer break in the UK this year. Aaron Strutt, product manager at Trinity Financial, says: "Leeds Building Society estimate that up to two thirds of existing Holiday Let landlords would refinance their current deal in order to lower their mortgage costs.
"Trinity Financial has access to four or five lenders offering Holiday Let mortgages and one in particular has some very attractive fixed rates, starting at 3.29% for borrowers with a 40% deposit."
If you would like help to lower your Holiday Let mortgage costs or to refinance an investment property, call us on 020 7016 0790.
July 24, 2013
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