Holiday B2L deal exclusive to MI

A specialist holiday buy-to-let product is the first exclusive to be offered to Mortgage Intelligence members by panel newcomer Scarborough.

Designed for holiday lets only, the deal features an overpay facility of 20% per year without penalty, with under- payments and payment holidays both permitted.

The rate is Bank of England base rate plus 0.49% for two years at 4.99%, reverting to base plus 1.49% for the remaining term.

The deal is available up to 80% LTV with a minimum property value of 150,000 and rental calculation of 150%. There is a 695 arrangement fee.

Sally Laker, managing director of Mortgage Intelligence, says: “We are always looking for niche sectors and this exclusive gives our members the chance to offer a tailored product to their clients.”