Cambridge Building Society

Cambridge Building Society re-enters holiday let market

The Cambridge Building Society has relaunched its holiday let mortgage range following increased market demand.

The products are available for Airbnb and similar properties, with both new and established holiday lets accepted. 

To allow more flexibility, the lender is allowing personal use of the holiday let property for up to 90 days per year.

The new range includes:

  • a two-year discounted rate product at 3.39% and 1% ERC
  • a five-year fixed-rate product at 4% interest rate and 5% ERC for the first year

Both products — which offer between £50,000 and £500,000 — are available at a maximum of 75% LTV on terms between five and 40 years, with a £1,500 completion fee and no application charges.

It does not have an upper age limit for borrowers applying for any of its holiday let mortgages.

Dan Barker, product manager at Cambridge Building Society, said: “We’ve seen how people have re-evaluated their finances over the last year, regardless of this, the appetite to have a place to holiday remains. 

“We understand from our intermediary partners that requests for holiday let mortgages have increased significantly, and we’ve built great products and flexible criteria to support their holiday homeowner clients with their investments.”

Leave a comment