Mansfield Building Society will accept limited companies and expat borrowers in its holiday offering to give brokers and customers increased choice.
Individual landlords and special purpose vehicle companies can now access a two-year discounted rate at 3.59 per cent variable and a five-year fixed rate at 4.09 per cent.
Expat borrowers can access a two-year discount rate at 4.19 per cent variable and a five-year fixed rate at 4.69 per cent.
The mutual has also upped the maximum loan to value (LTV) for its holiday let products to 75 per cent, up from 70 per cent before.
The maximum loan size for buy-to-let has also been increased to £1m.
Holiday let affordability will be assessed on the proportion of the annual average of low, mid and high season rental income. Affordability will also include top slicing.
Mansfield Building Society’s intermediary sales manager, Tom Denman-Molloy, said that the mutual was looking forward to offering more diverse solutions to landlords in the year ahead.
He added: “We’re really excited to be bringing these changes to the holiday let sector because we’re committed to making a real difference to brokers and their clients.
“By expanding our holiday let lending into these underserved segments and extending our loan sizes and LTVs for all holiday lets, we can give real opportunities for brokers that need to find versatile and open-minded solutions to clients with ever evolving mortgage needs.”
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.
