Holiday Let Mortgages
Ever dreamt of owning a holiday home by the beach, or in your favourite UK holiday spot? We specialise in securing holiday let mortgages that give you the flexibility of letting your dream holiday home out for a profit, as well as allowing you the benefits of being able to stay there too. A holiday let mortgage can be an attractive alternative to a standard buy to let mortgage.
What is a holiday let mortgage?
A holiday let mortgage is designed for people looking to borrow money on a property that will be let out on a short-term basis to holidaymakers as a business whilst also allowing you to personally use it as a holiday home at certain times across the year. Holiday let properties can potentially generate a higher income than normal buy to let properties.
The majority of holiday let mortgages require a 25% deposit. You may be able to use equity in other property that you own if you do not have the full deposit available.
Although you will typically pay more commission to use a local lettings agent, it can be money well spent as they will know the local market inside out. They can also assist with organising things like tradespeople and cleaners. If you are happy to manage the property yourself, some lenders will allow you to use sites such as AirBnb. We partner with a local holiday letting agent called East Coast Hideaways, for more information click the link https://www.eastcoasthideaways.co.uk/list-with-us/.
No, but we work with qualified tax advisers who will be able to provide you with all the advice you need regarding owning a holiday let.
We work with a network of experts who can help guide you through the buying process, from finding a property in the right area to full holiday let management.
Not many lenders offer holiday let mortgages, as they are considered a specialist type of lending. We are a whole of market mortgage broker and have access to every lender in the marketplace. We know the criteria of all holiday let lenders and can match your requirements with the right lender.
Let us help you
- First-time landlord
- Limited company
- Landlord with a portfolio of buy to lets
