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.Get Started
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.Apply Now
Can you get a mortgage on a holiday let?
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?
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?
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?
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?
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?
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.
We have the flexibility to work around your busy schedule, offering appointments out of hours if necessary.
No fees payable upfront, we are only paid if we get results.
You won't have to worry about being passed around, you'll deal with the same people throughout your process.
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.
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.
We will look around to find you the most suitable mortgage deal for your Holiday Let.
We've encountered various Holiday Let mortgage scenarios before. We'll use our expertise to help find you the best deal.
In the mortgage process, your dedicated mortgage advisor will help overcome any hurdles like issues with property surveys and down valuations.
Our Customers Love Us
4.97 Rating246 Reviews
My initial interaction with Faye from UK money man has been really personable and I felt like she understood my needs very well. I’m hoping they can help deliver what I need and I didn’t feel any pressure to have to go further with my...
UK Moneyman have been super helpful and reliable. Have always been able to count on them getting back to us quickly and made us feel comfortable checking anything out we were not really sure about. They made the whole process as easy and hassle free...
The team were fantastic, in finding the product for me. Jo also walked me through what to expect when purchasing your first home I.e. time frames, and answer my many questions. Also their after care has been great, checking in on how the purchase is...
Myself and partner used UK Moneyman for our first time buyer mortgage. We’ve had round the clock care well above the norm. Multiple routes forward regarding which mortgage to go for with lots of information to help prepare us through the...
I cannot thank the UK Moneyman service enough. Securing a mortgage meant more than just that to me, it was – is - a life chance. However, because of my credit history, I didn’t think that it could be done. Right from the start of the...
Leo and Kayleigh have been great from the first phone call that I made to them. They have both helped us each step of the way and it has been a great comfort to my wife and me that everything had been taken care of by them both. We will definitely...
Ryan and Kayleigh were incredibly helpful and always available to answer our questions whenever we needed - and we had a lot of them as we are first time buyers who didn't have a clue about any of the process to begin with! They secured our...
UK money man where so helpful. Chloe and Joe was amazing with us. Stayed in contact with us giving advice and updates, so glad we chose UK money man! Thanks for all your help.
Amazing, when ne and my partner first looked into buying a house, we had no idea about how to get a mortgage or anything. Moneymen were extremely helpful all the way through and sorted everything smoothly and efficiently! Very happy, will use again...
We’re so glad that we decided to use UKM to help us through the process of buying our first home, they took most of the stress off our shoulders and we’re always there to answer any queries. Would definitely recommend them to anyone...
I found Dinah at Harrogate Moneyman to be extremely supportive. She listened carefully to our needs, proposed solutions and followed up closely. A great service - I’d recommend Harrogate Moneyman to anyone looking for mortgage options.
Absolutely fantastic from the start of the process. Everything was explained really clearly and I feel that the advice given to me throughout was done so with my best interests at heart. Would recommend to anyone looking into getting a mortgage.
I used UK moneyman after using many other brokers. Tom Dent and Meghan Robinson fought for my case and was able to land me the mortgage offer I needed. In such a sellers market, having a great team around you makes such a difference. I will...
Mizna has been amazing and helped us to get a better mortgage protection for a cheaper price than what we previously had. Would definitely recommend!
excellent as always and very efficient. used them for my first-time mortgage and also my remortgage now
Excellent service from Mizna. Went the extra mile to get me the best deal. Will definitely use again.
Mizna Coates helped me reviewing a critical illness protection plan I have. Her advice helped me to take an informed decision. I feel her advice was honest and thorough, keeping my best interest as a priority and not just trying to sell me a...
For me, UK Moneyman is very experienced, very professional, Great advisor, very friendly and respectful. They always get you prompt response. I was so comfortable with them during the whole process. I strongly recommend them. Special thanks to all...
MoneyMan have been nothing but helpful with my mortgage enquiries. Quick to respond and found me an excellent rate I wouldn't have found without them. Highly reccomend.