What are holiday let occupancy clauses?
Q We have found a converted Barn in South Devon that we wish to purchase for use as a holiday cottage. There is a problem though - the lender we found on a mortgage comparison website has declined our mortgage application citing, “unacceptable security, 12 -month holiday let restriction”.  The...
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Can we have an interest only mortgage? Q We are having a problem sourcing a 70% mortgage to purchase a property to be used as a holiday let in Wales. Our case has been agreed in principle at a holiday let mortgage lender, however is failing their safety margin affordability calculation. It’s our preference to have the loan set... Continue reading
Holiday Let, Residential, or Commercial Mortgage: What do we need? Q My Wife and I live in Berkshire and are both senior Civil Servants. We are looking for a lifestyle change, which involves a relocation to Cornwall. Our jobs allow us to work from anywhere, as long as we can be in London twice a week for meetings. Our idea is... Continue reading
How to run a Holiday let Property: Top 5 Tips for Making a good first Impression At present time, there is no question that the market for UK holiday rentals is booming, fuelled by a combination of factors, including safety concerns when travelling abroad, plus of course the low value of the pound against the Euro. The news is all good for the sector. Owners of... Continue reading
Need holiday home finance with no accounts Q We are thinking of purchasing a property in the Lakes that will be used predominantly as a Holiday Let. At present the property is owner occupied so has no holiday letting accounts available. As a start point, we went onto one of these compare the market mortgage comparison websites and... Continue reading
Interest only holiday let remortgage Q My wife and I own 2 properties in total, our main home and a holiday property in Bath that we have owned for 7 years. We are in the fortunate position of having no loans secured against either of the properties. We are both retired, aged 57 and have... Continue reading
Holiday let mortgage for new build flat At Holiday Let Mortgages, the clue really is in the name…………it’s all that we do! That gives us a very unique insight into the “minefield” of issues facing the unwary when trying to organise a property loan in this market without professional help. Most of our work doesn’t need to be... Continue reading