Mortgaging a Holiday Let
The rules surrounding mortgages for holiday homes differ significantly from standard by-to-let mortgages.
When considering taking out a holiday let mortgage, you should bear in mind that only a handful of specialist brokerages and building societies offer holiday home mortgages, so we suggest you seek professional advice from a broker to find out what your options are.
Holiday property mortgages typically require a minimum deposit of 25%. Mortgage lenders will also assess affordability and look for the rental income from your property to be between 130-150% of the monthly mortgage payment.
How we can help
Our property recruitment team can generate property proposals with rental rates and income to support your mortgage application.
This article was published on 28-Jun-22
Disclaimer: At the time of publishing, The Original Cottage Company Limited has taken all reasonable care to ensure that the information contained in this guide is accurate. However, no warranty or representation is given that the information is complete or free from errors or inaccuracies. This guide contains general information about laws applicable to holiday properties. This information is not advice and should not be treated as such. Compliance with legislation is the responsibility of the holiday property owner and The Original Cottage Company Limited assumes no liability in this regard. This guide is not intended to be a definitive statement of the law in England & Wales. If you require precise or more detailed information regarding financial, legal and tax legalisation we recommend you seek professional advice.
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