10:52 AM, 19th July 2018, About 4 years ago
Tipton & Coseley Building Society has launched a new mortgage designed for owners who use Airbnb to let their properties.
The new product and criteria with a maximum of 75% Loan to Value is available for purchasing a second home or holiday let and includes remortgaging. There is no requirement for a fixed term agreement.
Affordability calculations can include holiday let income where there is proof of a sustainable track record.
Sales and marketing director Cammy Amaira said: “After listening to brokers we can now accept applicants who wish to let their property over a short-term including via Airbnb.”
“The changing nature of people’s working circumstances means that some tenants require shorter or more flexible rental periods. It therefore makes sense to accommodate landlords who wish to attract shorter term tenancies.”
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