Market Harborough offering Airbnb mortgage
Market Harborough Building Society is offering a unique mortgage for borrowers letting part or all of their property through the Airbnb scheme.
Over the last few years, the popularity of Airbnb has increased and homeowners are choosing to generate additional income by letting their bedrooms rather than the whole property.
Aaron Strutt, product manager at Trinity Financial, says: “Most of the banks and building societies are not happy for a property with a residential mortgage to be let especially without permission.
“If you are letting your property to multiple short or long term tenants, it is worth reading your mortgage offer to ensure that you are not in breach of any of the terms and conditions.”
Market Harborough’s rent a room mortgage is available for properties with at least three bedrooms in England and Wales. The applicant must have a UK bank account and reside in the property while the rooms are being let.
The society recently opened up the policy to cater for clients advertising on the Airbnb website on a full-time basis. They have to take marginally more expensive holiday let mortgage.
For help to secure an Airbnb mortgage, call Trinity on 020 7016 0790.
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