Loughborough BS launches second/holiday home product
Loughborough Building Society has relaunched its second/holiday home product, available on a second property used by the borrower and their immediate family members.
"It’s also a solution for those who need to live away during the week without having to make a long daily commute or uproot their family."
The new product is a three-year variarable discounted rate at 2.79% with a £499 completion fee.
Applicants can borrow up to 80% of the second home value or purchase price (whichever is lower) providing the property is in England or Wales, is for residential use and not rented out.
Ashley Pearson, BDM at Loughborough Building Society, said: “With so many people working from home at the moment, it’s good to be able to have a change of scenery, so I’m pleased to offer a solution for borrowers who would like to have somewhere to go and relax at weekends and holidays.
"Of course, with people more reluctant to travel by public transport, and the job market remaining challenging, it’s also a solution for those who need to live away during the week without having to make a long daily commute or uproot their family.”
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