Specialist lender Together has added a new holiday let product for purchase and remortgage.
The lender says it has introduced the product in response to demand from professional landlords looking to rent out their properties on a short-term basis and that a growing number of investors are looking to holiday lets as an alternative to traditional BTL properties.
Loans of up to £2m are available and terms range from four to 30 years, with a minimum five-year term on fixed-rate loans.
The product is also available on a second charge basis.
Together commercial chief executive Marc Goldberg says: “Holiday lets can deliver high yields and there’s strong market demand, so we’re delighted to launch this new product which we believe will complement our existing offering in this sector.”
Together will consider lending to borrowers using non-standard properties as security, and to a range of customers, including limited companies, sole traders, self-employed, expats and those who may have some adverse credit history.