5 year fixed rate Holiday Let Mortgage – with less commitment
Hodge Bank have launched a 75% LTV 5 year fixed rate product at 3.5%, with a £999 fee or a 3.75% fixed which has no arrangement fee.
We find that much of the lending required by our holiday let customers is at 75% LTV, but longer term 5 year fixed rates are often charged at a premium at this loan to value.
Whilst customers like the idea of the security offered by a 5 year fixed rate, they can be put off by two issues:
• Higher rates, no one wants to pay over the top
• Early Repayment Charges, if a customer decides to sell during the 5 year period
Hodge for Intermediaries has worked with their key mortgage brokers, including ourselves, to launch a semi-exclusive product, that deals with the two customer concerns listed above.
We have been working with Hodge Bank for Intermediaries since their entry into the holiday let market, providing assistance with mortgage lending criteria and product design. They are a highly focused lender with a great team that always works with common sense and a willingness to lend
The Hodge Early Repayment Promise –applies to these loans, which means that if a customer decides to sell during the 5 year product term, the Early Repayment Charge is waived.
9th September 2021
Expert, independent and specialist advice since 2006
We have been helping clients with their second homes and holiday lets since 2006 and our brokers have the widest possible experience in this sector. A holiday let mortgage will allow you to purchase a property that will be let out to paying holidaymakers, whilst also allowing you to personally use it as a holiday home each year.
Every one of our clients has a unique need and our brokers love a challenge. So, even if your situation is not ‘the norm’, we can usually help.
ACCESS TO ALL LENDERS
Why Choose Us?
- Holiday let experts since 2006
- Independent Mortgage Specialist
- Professional and knowledgeable staff
- Exclusive mortgage schemes
- Access to all the best rates and deals
- Practical & straightforward advice
By letting your holiday home out to holidaymakers, you can generate a valuable extra income, while your property investment will benefit from capital gains and income tax relief options that are unavailable to buy to let investors
We have been arranging holiday let mortgages since 2006 and we have a ‘can do’ attitude to even the most complicated holiday let scenario.
Trusted by clients and lenders alike we have extensive knowledge about how holiday lets work and how to finance them.
Please call us on 020 8301 7931 for a free initial discussion
Holiday home ownership in the UK
In the UK approximately 65% of all households are home owners.
Whilst this percentage has been declining over recent years, the number of households owning at least one second property has reached 2.4 million.
And 772,000 of these are holiday homes.
We do love our property!
What our clients say
Thank you so much for helping us in this initial purchase. It was quite nerve wracking but we are so glad we had your support along the way. Here’s to the future!
Thank you to everyone who helped me along this journey. It was good to have you on my side.
It was a pleasure. Thank you all for being extra helpful and steering us to a successful purchase. We are already planning the redec and furniture
Amazing service! Very knowledgeable and efficient
Trusted, knowledgeable and personable as always. Thank you again for your much needed help. Until the next time…
So many hurdles and unexpected issues. Thank you so much for your help and guidance, we really needed it!! I have taken your advice and now have an accountant who understands holiday lets. Thanks again
Cathy & Mark H
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