This will be available across England, Scotland and Wales for holiday let purchases or remortgage and the lender will consider both first-time landlords and experienced investors, including individual and portfolio landlords.
Vida Homeloans said the products were launched to meet the growing demand for short-term rental investment in the UK.
The lender has also made changes to its BTL range, including a consumer BTL for accidental and non-professional landlords who have inherited or been gifted property.
There is also a ‘Let to Move’ proposition, and Vida Homeloans will consider applicants who let their property out while they buy, rent or move.
Ross Williams, head of mortgage product management at Vida Homeloans, said: “We’re proud to be expanding our buy-to-let offering in ways that reflect the real-world needs of landlords and the brokers who support them.
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“The launch of our holiday let range is a key milestone, but it’s the broader enhancements – like our consumer BTL and Let to Move On propositions – that show we’re listening to the intermediary market and responding with specialist solutions that make a difference.”
This week, Vida Homeloans’ half-year results showed it had more than doubled its level of gross mortgage lending year-on-year, in its first full financial period as a licensed bank.
Foundation Home Loans cuts holiday let rates
Foundation Home Loans has reduced rates across its core and limited-edition holiday let products by 0.1%.
This will see pricing start at 6.24% up to 75% loan to value (LTV) for a five-year fix and 6.54% for a two-year fix.
Its limited-edition five-year fixed holiday let rate has also been reduced by 0.1% and now starts at 5.99% up to 75% LTV. Foundation Home Loans has also amended the fee structure from 2.5% to a flat fee of £7,995 and a minimum loan size of £250,000.
The lender said these changes would suit landlords in higher-value markets in need of larger loans.
Tom Jacobs, director of product at Foundation Home Loans, said: “The holiday let market has proven remarkably resilient, with sustained demand from both domestic and overseas visitors driving strong occupancy levels and competitive yields. By refining our pricing and fee structure, particularly on larger loan sizes, we’re making our products even more accessible and attractive to landlords and intermediaries operating in this space.
“Our goal is to ensure advisers have the right tools to help clients capitalise on opportunities in what remains one of the most dynamic areas of the buy-to-let market. These latest enhancements reaffirm our ongoing commitment to supporting brokers and landlords with competitive, flexible, and transparent specialist lending solutions.”
