New holiday let products launched by Leeds

Two new fixed-rate holiday let products have been brought to the market by Leeds Building Society.

Leeds Building Society is offering at 60% loan-to-value (LTV) a five-year fix at 3.69% and, at 70% loan-to-value (LTV), a five-year fix at 4.29%.

Free standard valuation come with both products and for remortgage applications, fee assisted legal services.

Where there is a proven track record of short-stay letting properties or where an independent surveyor confirms there is such a market will be considered, Leeds says.

September 2020 saw its biggest month for holiday let purchase applications ever, added the lender.

Matt Bartle director of products at Leeds Building Society 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.”