Holiday let mortgages – Finance options
Holiday let mortgages can be hard to arrange and are generally excluded from standard buy-to-let mortgage schemes. Many finance lenders will not lend on a property that will be used and let out as a holiday home. Fortunately, we know the lenders that do like holiday let mortgages and second property mortgages.
Holiday Letting is deemed a commercial enterprise. HMRC take this view and this can only be a good thing (see Tax Guide)
However, loans secured on Holiday Lets, sit awkwardly between two stools. A loan which is supporting a business; that is secured on a residential property! At Holiday Let Mortgages, we have many years experience in arranging Holiday Let finance; in most cases, at non commercial rate’s (subject to status). See below for an idea of what is possible, then when you are ready, call one of our advisers for an in depth discussion.
- Purchases and re-mortgages of second homes to a maximum loan to value of 75 %
- First time buyer loans available
- Max loan size (subjects to limits above) assessed on rental income or a combination of rental and personal income
- Non-Traditional construction available, Minimum value £150,000
- Properties in Scotland, including “highlands and islands”
- Multiple self contained Holiday Let’s on a single title
- Holiday Let development/conversion finance
- Capital raising on a first or second charge basis available
- Overseas mortgages
Please contact us to discuss your holiday let mortgage requirements or call 0800 840 3111