The holiday let mortgage experts

5 year fixed rate Holiday Let Mortgage – with less commitment

Hodge Bank have launched a 75% LTV 5 year fixed rate product at 3.5%, with a £999 fee or a 3.75% fixed which has no arrangement fee.

We find that much of the lending required by our holiday let customers is at 75% LTV, but longer term 5 year fixed rates are often charged at a premium at this loan to value.

Whilst customers like the idea of the security offered by a 5 year fixed rate, they can be put off by two issues:

• Higher rates, no one wants to pay over the top
• Early Repayment Charges, if a customer decides to sell during the 5 year period

Hodge for Intermediaries has worked with their key mortgage brokers, including ourselves, to launch a semi-exclusive product, that deals with the two customer concerns listed above.

We have been working with Hodge Bank for Intermediaries since their entry into the holiday let market, providing assistance with mortgage lending criteria and product design. They are a highly focused lender with a great team that always works with common sense and a willingness to lend

The Hodge Early Repayment Promise –applies to these loans, which means that if a customer decides to sell during the 5 year product term, the Early Repayment Charge is waived.

9th September 2021