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...
Continue reading
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
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
Ex-pat mortgage options Q We are currently expat (been overseas for 7 years), employed by the Sultan of Oman’s Navy at the Said Bin Sultan Naval Base. It’s highly probable that we will return to the UK soon, because my wife is missing her family. When we return, we will need to purchase... Continue reading
Finance for long term ex-pats Q We have a holiday let mortgage conundrum and have been ferreting around on one of your websites www.holdayletmortgages.co.uk (notice that you have others). We have looked that the section called Q&As, but we can’t find the answer to our question, so thought it best to contact you directly. My wife... Continue reading