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Furness for Intermediaries introduces new holiday let mortgages

Furness for Intermediaries has launched two five-year fixed rate products for its holiday let range.

The new mortgage deals have a borrowing rate of 3.34% for cases up to 65% loan-to-value (LTV) and 4.49% for cases up to 75% LTV.

Both products have a £1,250 product fee.

Furness, which looks at both gross holiday rental income as well as personal income when calculating affordability, allows borrowers to use their holiday-let property for up to 90 days per year for their own personal use.

Furness Building Society head of intermediaries, Alasdair McDonald, said: “As an established holiday let mortgage provider, we are always looking for ways to improve.

“We have listened to the request from our broker partners for 5-year fixed rate products to complement our range, and this coupled with our flexible approach to underwriting means we have a very attractive proposition.”

Furness for Intermediaries has also reduced its consumer buy-to-let rates.

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