Teachers for Intermediaries has launched two new fixed-rate mortgages for holiday lets.

The two products are both available at up to 75 per cent LTV and consist of a three-year fix at 3.49 per cent and a five-year fix at 3.74 per cent.

Both command a £99 application fee and £899 arrangement fee.

Teachers for Intermediaries explains that it recently carried out a survey, in which it found that 59 per cent of Britons are planning to holiday domestically this year, an increase of 35 per cent since before the Covid-19 pandemic.

It adds that hotels were the most popular choice, with 37 per cent of respondents plumping for this option, but that 29 per cent of those asked would rather a self-catering holiday let.

Teachers for Intermediaries business development manager Ralph Punter says: “As our own research has shown, consumer demand for UK based holidays has increased as a direct result of the pandemic, a trend we expect to continue into next year too.

“Combined with the recently announced stamp duty holiday, we expect to see increased interest in the holiday let market from investors.”