Furness Building Society have release a product update for intermediaries. See below for details. Access these product via our direct to lender mortgage club and get the benefits of payment on completion.
Announcement
FURNESS REDUCES RATES ON FIXED RATE HOLIDAY LET PRODUCTS
Furness has reduced its fixed rate Holiday Let products which are available across England, Scotland, Wales and even the Isle of Skye.
Up to 65% LTV, there are 2 and 5 year options at 3.09% with a £995 fee. Up to 75% LTV, again the 2 and 5 year terms are aligned at the same competitive price at 3.29%. The products carry a £995 fee.
For remortgages, Furness offers a free standard valuation and free legal fees although in Scotland this adjusts to a £150 contribution towards legal fees.
Furness also adopts a flexible approach to lending including both gross holiday rental income as well as personal income when calculating affordability. A further benefit to the client is that they can use the property themselves for up to 90 days a year. The lender is also happy to accept customers who are first time landlords.
Alasdair McDonald, Head of Intermediaries at Furness told us “We’re confident the new fixed rates offer real value for money and, coupled with the flexibility in assessing affordability, our acceptance of Airbnb properties makes choosing Furness a pretty compelling proposition. We’ve got over 10 years’ experience as a holiday let lender and our professional and friendly team of underwriters are always looking for a way to say yes, looking at each case individually.”