Last week Keystone Property Finance announced that they have now started lending on holiday lets for the first time amid strong demand from landlords and a boom in “staycations”.

Borrowers looking to purchase or remortgage a holiday let within England and Wales can choose from any one of Keystone’s specialist ranges, with two-year fixes starting at 3.34% and five-year fixes from 3.49%.

It also means borrowers have access to the green mortgage range, which offers exclusive rates for properties 5 years and older that have an EPC rating of C or above. The green specialist range starts from 3.24%

The specialist buy to let lender will lend up to 75% LTV on holiday lets for those wanting to borrow up to £750,000 and 70% LTV for those wanting to borrow up to £1m.

To qualify, borrowers must earn a minimum of £40,000 a year, must already own at least one buy to let and their property must be furnished. The rental agreement must not exceed six months.

The borrower’s property will be valued, and the rental coverage will be assessed on the same basis as a standard buy-to-let.

Keystone have launched their holiday let range following feedback from brokers and are currently one of the few lenders to offer these types of loans.

If you have any questions or need any assistance with your case enquiries, Keystone’s Business Development Managers are here to help, call the broker hotline on 0345 148 9086 or email enquiry@keystonepropertyfinance.co.uk.