SimplyBiz Mortgages is now offering an exclusive holiday let mortgage product from Leeds Building Society.

Available at up to 75%, it comes as a two-year fix at 3.89%. Additionally, borrowers will pay zero fees and enjoy assisted legals and a free valuation.

It offers brokers a 0.50% procuration fee.

SimplyBiz head of mortgages Makayla Everritt says: “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.

“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.”

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

Earlier this month, Leeds announce a change in the way it assess rental income for holiday let purchases, since then evaluating affordability using an average of low, medium and high season expected rental income.