Holiday Let Mortgages

A HOLIDAY BUY-TO-LET MORTGAGE CAN BE A GREAT BUSINESS VENTURE FOR ANY ASPIRING LANDLORD WITH RETURN ON INVESTMENT OFTEN VERY PROFITABLE

The first step in getting any kind of UK holiday let mortgage is to identify where you’re looking to purchase and what the demand will be for a property in the area from potential renters.

Coastal towns are always a popular choice however you may opt for a quiet little retreat in the countryside instead. It’s entirely up to you but we at Bespoke Moneywill be there to give you some guidance and any recommendations you might need including tips and things to look out for with different lenders holiday let mortgage criteria.

WHAT TO EXPECT WITH HOLIDAY LET MORTGAGES

As you might expect, mortgages for holiday lets are treated slightly different to standard buy to let mortgages by lenders. With standard BTLs mortgage lenders are generally concerned with the rental income coming in and the deposit you put down however, with holiday lets mortgages they are much more concerned with the area that the property is in, the current value of the property and its potential for value growth among other things associated with the holiday lets profitability.

Holiday lets mortgages are frequently personally underwritten rather than just being assessed electronically. This will allow the underwriter to get to know you and your case and provide some personalised criteria decisions if the lending proposition is good quality.

BESPOKE MORTGAGE FOR HOLIDAY LET

Bespoke Money often looks after clients who are searching for their perfect holiday let so we are no strangers to the process. With years of experience in the UK buy to let/holiday let market, we will help guide you every step of the way from searching for your property right up until your first fantastic guests move in.

Think carefully about securing other debts against your home or property. Your home or property may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it. Information is based upon our current understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from taxation, are subject to change.

Some forms of buy to let mortgages are not regulated by the Financial Conduct Authority.