The Nottingham expands offering with move into holiday lets lending
The Nottingham has ‘packed’ even more options into its mortgage offering with the introduction of holiday lets lending.
It has responded to the demand for staycations by unveiling a range of products designed to help those looking to invest in a holiday rental.
The building society’s criteria includes lending on up to two holiday lets (in England or Wales), with no minimum personal income requirement.
It will also take into consideration up to 32 weeks’ rental yield and allow the owner to utilise the holiday let for personal use for up to 60 days each year.
Here are The Nottingham’s new products (all available up to 75% LTV):
- Two-year fixed with £999 fee (£0 upfront), 3.55%
- Five-year fixed with £999 fee (£0 upfront), 3.82%
- Two-year discount with no ERCs and £999 fee (£0 upfront), 3.25%