Holiday let mortgages.
What you need to know
For clients purchasing or remortgaging a holiday let property.
We’re here to help with your holiday let cases, including for expat clients too.
- We offer up to 60 days of personal use.
- Will consider first time landlords (must be owner occupiers if domiciled in the UK; if an expat we will consider first timer buyer, first time landlords).
- Loans available up to 80% LTV, with 50% overpayments in the product term.
- We assess the loan amount using the average weekly rental from high, mid and low seasons.
- First time rental properties considered (no requirement to be currently let out).
- No maximum age.
We only lend to personal applicants, not those using a SPV or limited company, who will have a maximum of 3 buy to let and / or holiday let properties at completion of the mortgage (we do not permit portfolio landlords).
Holiday let in sixty seconds by Carly Scanlon, BDM.
FAQs
Your questions answered.
We’re here to make it simple, so here’s a list of our most commonly asked questions.
If you can’t find what you’re looking for, or you’d like to chat through your case, we’re only a phone call away. Find your BDM or contact our helpdesk. If you’re ready to submit a case enquiry click here for our mortgage enquiry form.
If your client is an expat we have more information on our expat page.
Yes, we allow 60 days for personal use.
Minimum income is £25,000 per annum for UK based applicants, from at least one applicant. Applicants who are an expat must be employed or in receipt of retirement income, with at least one applicant receiving a minimum of £40,000 or equivalent.
When assessing affordability we can consider employment, pension and investment income, plus income from any other UK property (i.e not the property being mortgaged).
Yes, they can use Airbnb or similar portals, an ARLA registered letting agent, or a combination of the two. Please note that all properties will be subject to our existing rental coverage assessment, requiring a lettings agent (not Airbnb) to provide the known or anticipated letting value.
Yes! We can consider joint applications which include a non-UK national, as long as one applicant holds a full British Passport. The British national will need to meet our criteria entirely themselves. For more information about expat lending view our expat page.
Generally, yes. Deposits built up in the applicant’s country of residence or the UK are accepted, as are most currencies.
Useful resources
Helpful information.
Let us make it easy for you. We’ve put together some of the useful documents for you below, but if you can’t find what you need, or you’d prefer to talk, just give us a call on 0330 123 1073 (option 1).
From our blog
Latest holiday let news.
Here you can find our latest blogs covering holiday let lending.
Our regular emails include our latest news, so if you don’t already receive our updates get in touch and sign up. You can also follow us on Twitter and LinkedIn.
New 125% ICR tier
Nearly 1 in 5 UK adults considering holiday let – what this means for brokers
Expat holiday let – available by popular demand!
Holiday let mortgages with Airbnb now available as standard
Great reasons to choose the Ipswich for holiday let
Product changes: repriced 90% LTV deals plus a new 5-year fixed rate and back in business for fixed rate holiday let
