Holiday Let Mortgages

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Holiday let mortgages may come with higher rates but also present you with a chance at reaping the rewards from your rental fees.

Holiday let mortgages have become more popular in recent years and there are lots of different ways your application can be assessed.

If you have a good deposit and your personal income is enough to cover your current commitments and the new holiday let mortgage in addition then your application should be straightforward.

The Financial Conduct Authority does not regulate some types of buy to let or commercial mortgages.

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Before committing to buy a holiday let property, it is essential to consider all of the finances first.

If not, then lenders can assess the application based on projections for the income you expect to generate from the holiday home.

They will need confirmation of how much you will be charging per week and how many weeks per year it can realistically be let out.

As a dedicated mortgage broker, we can help you with the holiday let mortgage process making it as smooth as possible.

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Holiday Let Mortgage FAQs

Can you get a mortgage on a holiday let?

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A holiday let mortgage is a special type of buy to let mortgage used for buying a property that will be let only for certain periods of the year, rather than on an ongoing long term basis.

How much deposit do I need for a holiday let mortgage?

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Typically speaking you will need a 25% deposit to get a holiday let mortgage.

How much income do I need to get a holiday let mortgage?

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Lenders vary on minimum income requirements when it comes to holiday let mortgages.

They will sometimes base the amount they will lend by looking into the projected rental income of the property.

Self generated rental projections are not usually accepted by lenders and you will have to look at getting a professional agent in to generate these.

Should I invest in a holiday let or a residential buy to let?

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This is completely down to you as an individual and what will best suit your circumstances.

The key differences are a holiday let is usually short term let, a property that is let out to holidaymakers for weekends or a week away.

With a residential buy to let you are usually looking at a 6-12 month tenancy.

Can I use my buy to let mortgage for holiday letting?

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The short answer is no. Most lenders typically state in the mortgage requirements that an assured shorthold tenancy should be for at least 6 months.

This is something you should check in the conditions of your mortgage.

You will probably need to look at a remortgage to get your current buy to let onto a holiday let mortgage.

Why choose a mortgage broker?

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As a dedicated mortgage broker, we can provide a helping hand on your holiday let mortgage journey.

We are available to answer any questions you may have as well finding you a deal that is appropriate for your financial circumstances.

8 Reasons to choose UK Moneyman

Open all throughout the week, from early until late.

We have the flexibility to work around your busy schedule, offering appointments out of hours if necessary.

Free Holiday Let Mortgage Appointment.

No fees payable upfront, we are only paid if we get results.

You will be allocated a dedicated case manager.

You won't have to worry about being passed around, you'll deal with the same people throughout your process.

We build relationships with landlords, whether a Holiday Let or a regular buy to let.

Holiday Let's can be challenging, as you have to prove you can make up your payments on periods where you may not have a tenant. We'll help you to evidence your income.

Our team will provide jargon free insurance advice.

With a range of insurance products available, we can help find you the one that is suitable for you should you become seriously ill and unable to work.

1000s of possible Holiday Let mortgage options.

We will look around to find you the most suitable mortgage deal for your Holiday Let.

We have a lot of experience and knowledge of Holiday Let criteria.

We've encountered various Holiday Let mortgage scenarios before. We'll use our expertise to help find you the best deal.

Your mortgage advisor will be with you every step of the way.

In the mortgage process, your dedicated mortgage advisor will help overcome any hurdles like issues with property surveys and down valuations.

We search 1000s of holiday let mortgage deals

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UK Moneyman Limited is Registered in England, No. 6789312
Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

We are entered on the Financial Services Register No. 627742 at

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