fbpx

TML expands BTL range for holiday and short-term lets

Jake Carter

July 21, 2021

rental yields btl

The Mortgage Lender (TML) has expanded its buy-to-let (BTL) range with the launch of a holiday and short-term lets product.

Holiday and short-term lets mortgages are available to the whole of the market for individual landlords and limited companies with a minimum of one BTL property in their current portfolio for 12 months.

Rates for a 5-year fix start at 4.16% and 3.67% for a 2-year fix at 75% loan-to-value (LTV).

The product is available for purchases and remortgages with maximum loan value of £1m.

There are no minimum income restrictions, lending is based on a sustainable assured shorthold tenancy (AST) figure and affordability available from 125% of payrate for a 5-year fixed.

Steve Griffiths, sales and product director at TML, said: “The holiday and short term rental market in the UK has been particularly buoyant for a number of years, but especially so since the pandemic cancelled a lot of people’s plans for holidays abroad.

“For established landlords and investors this segment of the market provides an attractive route to diversifying their property portfolios.”


Sign up to our daily email