Leeds Building Society has launched two new fixed-rate holiday let products as the post-lockdown holiday market creates more opportunities for investors.
The lender experienced its biggest-ever month for holiday let purchase applications in September 2020.
Leeds BS aniticipates that due to ongoing pandemic uncertainty, Britons will holiday in the UK this year.
Thus, keeping the continued demand in view, the Society has expanded its range of holiday let products.The added two five-year fixed rate products with no product fee are:
- Five-year fixed rates start from 3.69% up to 60% LTV
- Five-year fixed rates start from 4.29% up to 70% LTV
Additionally, both products come with a free standard valuation. Further, fee assisted legal services are available for remortgage applications.
LBS says it will consider the properties where there is a proven track record of short-stay letting. Also where an independent surveyor confirms there is a market for holiday let properties.
Leeds Building Society director of products Matt Bartle comments:
“Ongoing pandemic-related uncertainty around international travel adds to the likelihood that more Britons will holiday in the UK this year.
Therefore, a suitable property in a prime tourist area may offer an opportunity for buy-to-let landlords to diversify their portfolio with a short let holiday property.”