What size deposit do we need for a holiday let mortgage?
In order to get a holiday let mortgage, you will need to provide at least a 25% deposit. The reason that the deposit required for holiday let is slightly larger than some buy to let mortgages, is that lenders view the risk associated with short term letting as higher...
Continue reading
Most FAQs about Holiday Let Mortgage Criteria Q: Where can I find out about the requirements for getting a holiday let mortgage? A: Holiday let mortgage criteria vary greatly from lender to lender and can be quite difficult to find in their literature and even more difficult to understand. Lenders have tried to differentiate their products from... Continue reading
Can we get a mortgage for a holiday let business? Yes, mortgages to purchase or refinance a holiday let business can be sourced on competitive terms. This type of lending is arranged and underwritten differently from the standard holiday let mortgages offered by banks and building societies, who use criteria and products available to landlords operating buy to lets. Mortgages... Continue reading
Purchasing a Guest House or B&B As a specialist mortgage broker that arranges finance for the hospitality (Travel and Tourism) business sector, we receive many early stage enquiries relating to the purchase of existing or start-up Guest Houses and B&Bs. These are some of the questions we are asked and might be useful to... Continue reading
Commercial mortgage for a start-up “lifestyle change” holiday let business We recently posted a case study entitled “Holiday let ‘live/work’ case study”, which concerned a customer wishing to purchase an existing trading holiday let business and combine that with a change in lifestyle. In this case the customer had recently sold a trading business, which, to a lender, is... Continue reading
Can we borrow more than £500,000? Q I have a question, but it’s probably best that we give you some background in terms of our problem. We have found a property in Devon that would make an ideal holiday let property. It’s a single dwelling, just a large house with an acre of land; nothing unusual... Continue reading
Can I purchase a holiday let complex and live on site? Q My wife and I are considering a lifestyle change, moving away from our corporate city life and into the country. I am in Business Banking and my wife works for a company that advises on corporate takeovers. We are nowhere near retirement age, so will need a gainful occupation.... Continue reading