The mortgage lets customers borrow up to £1.5m and has a maximum lending age of 95. It allows for the property to be let through Airbnb and offers up to 90 days occupancy a year by the owners.
Early repayment fees would be waived if the landlord sells the property and pays off the mortgage in full.
“We saw a gap in the holiday let market for a customer friendly product that enables owners to stay at the property for longer period, as well as the ability to use letting sites such as Airbnb,” said Emma Graham (pictured), business development director at Hodge.
“We set about developing a product that will allow the maximum flexibility for customers looking to buy their little place in the British sun.
“We wanted to help our customers make the most of this trend and buy a property they could rent out to people holidaying in the UK. We have seen an increase in enquiries from those looking to buy a holiday let so we’ve developed a product that will allow the maximum flexibility when trying to do this,” Graham added.
You may also be interested in the Mortgage Solutions newsletter. All the latest news, analysis and insight from the mainstream residential lending market. Including industry news, adviser business strategy tips and market commentary.