Furness cuts rates on holiday-let products

Jake Carter

June 22, 2021

seaside holiday let coastal

Furness Building Society has reduced product rates across its holiday-let range.

The 65% loan-to-value (LTV) 2-year discount has been reduced from 3.19% to 2.99%; with a £995 fee.

As well as this, the 75% LTV 2-year discount has been cut by 0.2% to 3.39%.

For remortgages, the lender offers a free standard valuation and free legal fees although in Scotland this is adjusted to a £150 contribution towards legal fees.

The lender accepts applications across England, Scotland and Wales, including the Isle of Skye.

Holiday-lets with Furness allows the property owner to use the property themselves for up to 90 days a year.

Furness has also reduced the rate on its 2-year buy-to-let product at 75% which is now priced at 2.69%, a reduction of 0.2% from the previous rate.

Alasdair McDonald, head of intermediaries at Furness, said: “With the staycation market increasing in popularity we’re sure brokers and their customers will welcome these lower rates which will further increase the rental yield enjoyed by the customer after what has been an incredibly tough 16 months for tourism.”

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