According to the lender, the new holiday let mortgages available to both individual landlords and SPV limited companies are competitively positioned with a 2 year discounted rate at 3.59% variable and a 5-year fixed-rate at 4.09%.
Expats needing a holiday let mortgage will also be able to access a 2-year discount at 4.19% variable and a 5 year fixed at 4.69%.
Affordability for all holiday let lending with Mansfield will continue to be flexibly assessed on a proportion of an annual average of Low, Mid and High season rental income, including consideration given to Top Slicing.
Tom Denman-Molloy, Intermediary sales manager, comments: “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.”
