Foundation Home Loans has added short-term lets to its Property Plus range and removed the £100,000 minimum loan size.
The new short-term let products are aimed at properties let on a short-term basis, such as through Airbnb or for contractors and remote workers.
The lender said properties will still be valued based on their buy-to-let (BTL) rental income, confirmed by the valuer.
Holiday income-only and seasonal lets are not included.
2-year and 5-year fixed rates are available up to 75% loan-to-value (LTV), starting from 6.89% with a 2% fee.
Foundation Home Loans has also reduced rates across its Property Plus and houses in multiple occupancy (HMO) Plus products.
The Property Plus 2-year fixed rate now starts at 6.84% with a 2% fee, and the 5-year fixed rate is 6.74%.
HMO Plus products for up to six beds now have rates of 6.94% and 6.84% for 2-year and 5-year fixes.
Tom Jacob, director of product and proposition at Foundation Home Loans, said: “We’ve listened to broker feedback and seen first-hand the growing demand for more flexible solutions in the specialist buy to let space.
“Short-term lets are one of the fastest-growing property types, and by formally introducing them into our Property Plus proposition, we’re enabling brokers to serve more landlords with more relevant product options.
“Removing the £100,000 minimum loan size across all Plus products was also a logical next step – we’re confident in the quality of cases we receive and want to ensure advisers can offer competitive solutions to clients across the full loan-size spectrum.”
Jacob added: “Combined with rate reductions and product simplification, this refresh further strengthens our commitment to a flexible and practical buy to let proposition that reflects the real-world needs of advisers and their landlord clients today.”
