The Cumberland Building Society has brought back its two-year fixed rate holiday let mortgage.
The product has a rate of 3.84 per cent and has a maximum loan to value (LTV) of 75 per cent.
The move comes after the building society cut rates in June on loans over £750,000 for its holiday-let range as it anticipated market growth due to increased holidays in the UK.
The building society will lend up to £2m on an individual transaction and up to £5m for aggregate borrowing across a portfolio of properties.
Their holiday-let products are available for occupancy-restricted property and larger portfolios in mainland UK, and the Isles of Anglesey, Arran, Mull, Skye, Lewis, Harris and Wight.
The Cumberland’s commercial lending head Scott McKerracher said: “The two-year fixed product has previously been popular with our customers, so we’re pleased to be able to offer this option once more.”
Holiday lets have become increasingly popular over the past year as tax benefits, UK holidays and lockdown savings have encouraged would-be investors into the sector and growth is set to continue.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
