Remortgages

As a specialist Broker in arranging mortgages for holiday let and short term let properties, much of our work involves making sure existing owners achieve the best financing result available.

Re-financing or remortgaging a holiday let property or holiday home will normally apply to two distinct types of owner; those that have a current mortgage and those that don’t.

MORTGAGE FREE

If you do not currently have a loan secured on your holiday let, you may be looking to raise money for improvements, repairs, or even expand your portfolio of holiday let properties.

EXISTING MORTGAGE

If you have a mortgage secured on your property, at some point, it may revert to the lenders standard variable rate (SVR), which can be double the rate of interest that you are paying on an initial deal. Paying over the top can easily be avoided in most cases, by switching to a new lender that offers a holiday let mortgage product. These mortgage products are often “fee free”, meaning that the lender will pick up the bill for basic legal and valuation fees.

Many holiday let lenders insist on 6 months property ownership before they will consider accepting a re-mortgage application. We have lenders that offer “Day one” re-mortgages, helping our clients cut down on bridging finance costs, where a property is not immediately ready for letting.

Arranging a holiday let remortgage is usually a fairly simple process that should only take a few weeks to organise and naturally we will help with all of the mortgage paperwork. Our experienced mortgage advisers are fully up to date with all of the holiday let mortgage options and lenders, enabling you to get the best mortgage deal possible.

Please contact us to discuss your holiday let re-mortgage requirements or call 0800 840 3111