The Nottingham has launched three holiday let lending products available up to 75% loan to value, which it says is designed to cater for the surge in staycation following the pandemic.

The mutual debuts a two-year fixed-rate loan, with a £999 fee (£0 upfront), at 3.55%, a five-year fixed-rate offer, with a £999 fee (£0 upfront), at 3.82%, and a two-year discount, with no early repayment charges and £999 fee (£0 upfront), at 3.25%.

The building society’s criteria includes lending on up to two holiday lets, in England or Wales, with no minimum personal income requirement.

It will also take into consideration up to 32 weeks’ rental yield and allow the owner personal use of the property for up to 60 days a year.

The Nottingham’s head of mortgage product Christie Cook says: “As we head into summer hopefully our competitively priced range of holiday let products, aligned with our lending criteria, will bring some sunshine to brokers and their customers.

“The challenges and restrictions brought about by the pandemic led many to rethink certain aspects of their lives including how, and where, they take their holidays – with a well-publicised surge in the number of staycations.

“That, in turn, has created a potential investment and income opportunity for those looking to purchase a holiday rental, so we are excited to be lending in this space.”