Roma Finance has launched a holiday let and serviced accommodation five-year term base rate tracker mortgage. The ‘staycation’ is going to be a huge part of many families plans going forward and Roma Finance is launching this brand new solution for investors. The criteria include a maximum LTV of 70% and an arrangement fee of 1.95%. The maximum loan is £500,000, with repayment and interest only options available. As income on holiday lets can be seasonal, Roma will allow the borrower to “Top Slice” actual rent from other provable income and each case is underwritten individually. With the Bank of England base rate currently being at an all-time low of just 0.1%, the tracker product has rates at 65% LTV 4.89% plus base rate and for 70% LTV 5.39% plus base rate.
SOURCE: NACFB & Roma Finance, Press Release