Darlington Intermediaries has entered the holiday let market with the launch of a new loan.

The holiday let product is a two-year 75% loan to value offer, priced at 3.39%. The mortgage will be considered on capital repayment, interest only and part and part.

The loan is for properties in England and Wales, and allows personal use for up to 90 days a year.

The broker-only arm of Darlington Building Society adds that criteria and eligibility are based on individual circumstances, with each application underwritten on an individual basis.

Darlington Intermediaries head of intermediary distribution Chris Blewitt says: “The rising trend of staycations and the uncertainty of foreign travel is currently increasing demand for holiday let properties in the UK.

“We are pleased to bring a holiday let mortgage to the sector and support both first-time landlords entering the market, or existing landlords looking to remortgage from their current lender.”

Blewitt adds: “Our mission is to support advisors with complex cases and understand borrower needs, and we have launched this product to assist people with their holiday let aspirations.”

The pandemic has restricted foreign travel, which has seen several lenders return to this market and expand their product ranges in recent weeks.

Earlier this month, Paragon re-entered the holiday let and short-term finance markets, while the Cumberland Building Society cut rates on loans over £750,000 across its holiday let range.