Furness Building Society has recently launched a new range of Holiday Let products and has also tweaked its lending criteria with a change that it believes makes it stand out from the crowd. Customers now have the added benefit of being able to use their holiday let property for up to 90 days per year for their own personal use, something that some lenders don’t allow.  As well as a competitive product range the Society adopts a flexible approach to lending and, unlike some lenders, the Furness will include gross holiday rental income as well as personal income when calculating affordability.

Head of Products, Euan Ballantyne told us “Furness is an established mortgage provider of holiday let mortgages and we think that changing our criteria will appeal to a wide range of brokers who are looking to place this type of business within England, Wales and Scotland.  We think it makes sense that if you own a holiday let property you’re more than likely to want to use it for your own holidays so we’ve removed this restriction from our criteria. We’ve got a range of products up to 75% LTV and coupled with our approach to an affordability based calculation when assessing cases we think we’ve got an attractive proposition.”