The Leicestershire based lender is extending its holiday let, family, business and consumer BTL ranges. The new discounted and fixed rates are available for purchase and remortgage in England and Wales.
All products quoted are subject to early repayment charges.
New products
Holiday let products used for short term holiday letting, including Airbnb, are at 75 per cent loan to value (LTV) on a two-year fixed rate at 3.29 per cent with a £499 completion fee.
Family BTL rates are available for properties rented out to close family members. At 80 per cent LTV, discounted standard variable rates (SVR) start at 3.24 per cent for three years with free standard valuation and no completion fee.
Business and consumer BTL products including first-time buyers and first-time landlords are at 80 per cent LTV, SVR discounted rates start at 2.79 per cent for two years with free standard valuation and no completion fee.
Let to buy products are being changed in response to an increasing number of applicants who want to secure their next residential home while retaining their existing property to potentially benefit from rental income and/or to release funds up to 80 per cent LTV for their future deposit. This also puts them in a position to buy with nothing to sell when searching in a competitive housing market with limited stock levels.
Ashley Pearson (pictured), national BDM at The Loughborough said: “I really like our BTL proposition, the fact we offer family BTL and holiday let, both with fixed rates, and allow first time buyers up to 80 per cent LTV enables us to provide solutions for even more investors.”
