Chorley Building Society has re-entered the holiday let sector with two new products.
The lender believes that ‘staycations’ will remain a firm part of the British lifestyle, and has therefore brought out two 80% LTV two-year discounts offering an initial rate of 3.04%.
The first is for purchase and the second is a fee-assisted remortgage product.
Up to three properties within a portfolio are allowed.
These mortgages are designed for properties in England and Wales and can be used on an interest-only basis as well as capital repayment.
Chorley head of lending Liz Pearson says: “We understand from our intermediary network that there has been a significant increase for holiday let mortgages and we are pleased that we are now able to offer two competitive products for this market.
“Our underwriting team assess every case individually and take a flexible approach to lending and we are very much looking forward to supporting our intermediaries’ clients realise their holiday letting dreams.”