UK: New ‘Airbnb’ mortgage launched by Tipton

Tipton & Coseley Building Society recently launched a new mortgage for second homes and holiday lets, directed at cases for those intending to let the property out through the lodging reservation website Airbnb.

Despite the increasing popularity of Airbnb, there are few lenders in the market that provide mortgages for short-term lets and non-fixed term agreements. Cammy Amaira, Tipton & Coseley’s director of sales and marketing, states, “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.”

By taking holiday let income into account where there is a proven track record, the building society has also introduced further flexibility on overall income.

Applicants can borrow up to 75% LTV, and the mortgage is available for those purchasing a second home or holiday let, as well as those looking to remortgage.

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