SimplyBiz Mortgages has announced it is granting its members access to an exclusive rate for holiday lets from Leeds Building Society. 

The deal, which is available to SimplyBiz Mortgages Members with immediate effect, provides access to a rate of 3.89% for two years on loan-to-values (LTVs) of up to 75%.

It also offers no fees, assisted legals, a free valuation and a procuration fee of 0.50%, SimplyBiz Mortgage confirmed.

“With ‘staycations’ being very much the trend of the past 12 months, there’s never been a better time for those with rental property to ensure they are fully booked up over the holiday periods and beyond,” commented SimplyBiz Mortgages head of mortgages, Makayla Everritt.

“People choosing to explore more of their home nations has, unsurprisingly, prompted an interest in investment into property for holiday let purposes and we are particularly pleased that the team at Leeds has been able to offer this market-leading exclusive rate to our members.

“In addition, Leeds’ recent announcement on the changes to its affordability evaluation to better reflect a holiday lets’ earning potential means this is a very attractive solution.”

Leeds Building Society corporate account manager, James Chutter, added: “A higher demand for UK holidays, and the potential returns for a property investor, have created more competition in this area of the market.

“We’re delighted to provide SimplyBiz Mortgages members with this market-leading exclusive product, along with our recently enhanced affordability assessment to support clients as they achieve their goals.”

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