Birmingham Midshires withdraw from holiday let mortgages

Birmingham Midshires have withdrawn from the holiday let mortgage market by removing their House-2-House product from the market for new customers.

Birmingham Midshires have withdrawn from the holiday let mortgage market by removing their House-2-House product from the market for new customers.

The House-2-House product was available up to 75% of the purchase price and could be used for holiday let properties as well as second homes.

This has left owners and purchasers of holiday buy to let properties with one less option for financing in an already restricted market.

There now appears to be a gap in the market above 70% loan to value - with most lenders reluctant to lend above this level for holiday let properties.