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Leeds BS latest lender returning to holiday let market

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  • 13/07/2020
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Leeds BS latest lender returning to holiday let market
Leeds Building Society has become the latest lender to relaunch its holiday let offering following the relaxation of lockdown restrictions to allow holiday stays in the UK.

 

The lender follows Roma Finance, Monmouthshire Building Society, Principality Building Society and Foundation Home Loans in relaunching its proposition in recent weeks.

Brokers have also suggested that for lenders with the right expertise the sector had “really strong” fundamentals and the potential to build a good mortgage book with “incredible margins”.

The mutual is launching a pair of two-year fixes on 16 July, at 2.84 per cent up to 60 per cent loan to value (LTV) and at 3.34 per cent up to 70 per cent LTV.

Both products come with a free standard valuation, fees assisted legal services, and no product fee.

Leeds Building Society director of products Matt Bartle (pictured) said the lender expected the trend of holidays in the UK to continue and so there would be more interest in holiday lets.

“The government announcement on stamp duty is likely to encourage more interest in the buy-to -let market, including holiday lets,” he said.

“High demand means high returns but it’s important for landlords to remember performance can be seasonal and affected by the weather.

“Buying a holiday let, like any other property investment, does carry risk but enables an investor to diversify their portfolio risk by letting weekly to a range of occupiers, rather than relying on one individual to pay rent every month.”

 

 

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