Together launches holiday let product for landlords

by: Edward Murray
  • 30/10/2017
  • 0
Together launches holiday let product for landlords
Changing market dynamics have encouraged specialist lender Together to launch a new holiday let product for landlords.

Together says more professional landlords are looking to rent out their properties on a short-term basis. It believes short-term rental platforms like Airbnb are making it easier to find tenants and generate attractive yields.

Loans of up to £2m are available for purchase or remortgage. Terms range from four to 30 years, with a minimum five-year term on fixed-rate loans.

The holiday let loan is also available on a second charge basis, for landlords looking to raise additional finance on their rental property.

 

Non-standard properties

Together will consider lending to borrowers using non-standard properties as security, and to a broad range of customers, including limited companies, sole traders, self-employed, expats and those who may have some adverse credit history.

Marc Goldberg (pictured), commercial CEO at Together, said: “Our aim is to support landlords and investors by providing innovative finance products that are tailored to their needs.

“Holiday lets can deliver high yields and there’s strong market demand, so we’re delighted to launch this new product which we believe will complement our existing offering in this sector.”

He said market demand for holiday lets was buoyed by record numbers of tourists visiting the UK. This view is supported by figures from Visit Britain. The national tourism agency said in 2016 there were 37.6 million inbound visits to the UK. Its latest forecast for 2017 is for 39.7 million visits.

There are 0 Comment(s)

You may also be interested in

Bridging

Keep up-to-date with all the breaking bridging and short-term lending news and analysis, from regulatory changes to product innovation and inside market knowledge. Take a look at our broker and lender case studies showing short-term finance in practice.

Commercial

Find all the news, opinion and analysis for property finance brokers specialising in commercial and semi-commercial mortgages, alternative and development finance for commercial investments in residential projects.

Second charge

Stay up-to-date with the latest news, analysis and opinion on the secured loan market as it evolves into a mainstream finance option following European regulation on 21 March 2016.

Complex buy-to-let

Whether it’s a complicated asset or a complex customer, you’ll find out all the breaking buy-to-let news in this section. From limited companies to portfolio landlords, student lets to a House in Multiple Occupation, we’ve got all bases covered with our up-to-the-minute news, analysis and opinion.

Mortgage Solutions

Find all the breaking news, analysis and industry comment on Specialist Lending Solutions' sister site, Mortgage Solutions

Read previous post:
Bank of England
Remortgaging up 3% as purchases and overall lending plateau

Data from the Bank of England (BoE) showed remortgaging continued to grow steadily in terms of transactions and lending amounts...

Close