Furness has launched two new holiday let products for properties across England, Scotland and Wales.
The 2-year fixed rate products include a 5.99% up to 65% loan-to-value (LTV), and 6.19% up to 75% LTV, and both carry a £995 fee which can be paid up front or added to the mortgage.
There is also a 5-year option available at 5.93% up to 75% LTV.
Each of these products come with a £250 Cashback.
Furness’ holiday let range allows personal use for up to 90 days per year, has a flexible approach on calculating affordability, considers complex and multiple income streams, considers mortgages on an interest-only or repayment basis, and is available for properties across mainland UK.
Furness also launched a range of residential products, including a 4.64% 2-year fixed rate for cases up to 80% LTV.
Alasdair McDonald (pictured), head of intermediaries at Furness, said: “We are delighted to improve our Holiday let range with these new products.
“We are happy to consider mortgages on an interest-only or repayment basis, and with apply our flexible approach to calculating affordability we believe we have a strong proposition.
“Our unique process means we’re able to consider applications involving complex and multiple income streams.
“This includes using an element of the gross holiday rental income, as well as personal income.
“Our affordability based model uses primarily personal income but also factors in 50% of the rental income into the assessment.”
