What is a holiday let mortgage and is this something you should consider?

holiday let mortgages

Holiday Let Mortgages

A holiday let mortgage allows you the flexibility of a residential mortgage with the perks of a Buy to Let mortgage. It will allow you to stay in the property as you please throughout the year and use it as a holiday home with the flexibility of allowing you to let the property out the rest of the year.
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Buy To Let Mortgages

If you wish to stay within the rules, ensure you have the proper mortgage contract.

This type of mortgage is rarer throughout the UK, however, through our extensive range of available lenders and products, we can find the most suitable Holiday Let Mortgage for you from our extensive range.

Things to consider when thinking about a Holiday Let Property. You will typically need a larger deposit than a traditional Buy To Let. Whilst good Buy To Let rates can be attained at 80% loan to value with a 20% deposit, a typical Holiday Let Mortgage will require a 30% deposit due to the larger perceived risk as there are limited lenders in the market allowing this type of mortgage.

Also, whilst a Buy To Let mortgage will require a tenancy agreement to prove the validity of the income, a Holiday Let will typically have greater risk of “void” periods when the property may not be let out. For this reason, there is a higher chance the lender will assess your ability to pay the mortgage in terms of overall affordability. Our expert team will assess this for you on your behalf and make sure that you can obtain the Holiday Let Mortgage that you are looking for. Speak to one of our Mortgage Experts today and see what we can do for your Holiday home dreams by securing a Holiday Let mortgage that is right for you.

Would you be able to get a Holiday Let Mortgage?

Holiday Let Criteria

Criteria differs from lender to lender but here is a typical overview.

  • Mortgage rates and products available can differ from standard mortgages
  • Minimum income will sometimes apply
  • Loan to value (LTV) will be restricted
  • Other background properties could be a factor
  • Potential rental income can be a factor
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Buy To Let Mortgages

Complex Buy to Let

Regulation changes, portfolio limits, LTD companies and more. With buy to let becoming more and more complex why not talk to us so we can plan your strategy together.

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There is no guarantee that it will be possible to arrange continuous letting of the property, nor that rental income will be sufficient to meet the cost of the mortgage.

Your home may be repossessed if you do not keep up repayments on your mortgage. There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.

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Evelyn Leigh
Evelyn Leigh
03/03/2022
Fantastic service. Stisi group even work in the evenings on your behalf to submit your application. So impressed with Chris and Emma. Thank you so much for making this whole process effortless.
Francesca Marcia
Francesca Marcia
26/01/2022
I was trying to buy a second property and I am so glad Chris, William and Lorraine helped me. Chris recommendation were great, he was extremely helpful and professional, he responded to all my questions and I never had to wait for his emails. He kept me updated during the whole process. William was a star, he followed up weekly and kept me updated on all the progresses of my mortgage application, he reassured me constantly when I was worried and made sure to get in touch after my shift at work to keep me in the loop of everything. The service I received was great. I highly recommend Stisi Group.
Victoria Harper
Victoria Harper
07/01/2022
5* service from Ross and the team as always. Stisi Group have managed our portfolio for many years and I wouldn't go anywhere else. Highly recommend.
Isaac Pringle
Isaac Pringle
16/12/2021
As a First Time Buyer the entire process of gaining a mortgage and buying your first home can be daunting and scary. Ross and the team made the whole process super simple for me and my partner, answering all of our questions and going above and beyond to make sure we understood everything involved. On top of that they got us a fantastic deal we would never have been able to get ourselves! Would highly recommend!
NTina Doryforou
NTina Doryforou
07/09/2021
Our mortgage is offered after just 10 days from when we started communicating with the Stisi group. Very friendly and effective brokers. Thank you for your help and support!
Paula Murphy
Paula Murphy
04/08/2021
The exceptional service that I received from Chris Usher during the entire mortgage application was impressive and truly appreciated. From beginning to end Chris was informative, extremely thorough and so helpful. Both Chris and his colleague Lorraine Brown responded quickly and efficiently to any questions I had. My mortgage application went through smoothly and quickly and I could not have asked for better service. I would highly recommend Chris and the team to anyone looking for a mortgage - so professional and dedicated to excellent customer service. My relocation was so stress free and smooth!
Iva Mayer
Iva Mayer
17/04/2021
Absolutely amazing service.Being first time buyers in new country we really didn't know where to start. From the day 1 Craig was super helpful and patient , answerd all our questions and sorted out all problems during the process. Thank you so much!
Gary Blackwood
Gary Blackwood
08/04/2021
Outstanding service. Always available to answer questions and take the time to explain what is going on. As a business owner they have done better than any company I have spoken to before about getting a mortgage. I highly recommend the Stisi group and honestly given the level of service I would give them more than 5 stars if I could.
Matt Armstrong-Ford
Matt Armstrong-Ford
31/01/2021
Friendly, polite and incredibly efficient.

STISI GROUP

Stisi Group is a trading name of Clear Mortgage Solutions Limited which is an appointed representative of Mortgage Advice Bureau Limited and Mortgage Advice Bureau Limited (Derby) Limited who are authorised and regulated by the Financial Conduct Authority.
Clear Mortgage Solutions Limited. Registered Office: 114 Centrum House,
Dundas Street, Edinburgh, EH3 5DQ. Registered in Scotland Number: SC463175.

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