Holiday Let and Home Mortgages

Borrow up to 85% loan to value ratio

A holiday home mortgage allows the borrower a first charge loan using an investment residential property as security.

The holiday home mortgage is set-up so that the property is rented out and the mortgage payments are covered by the rental income generated by the holiday maker within the security and has long term tenancy restrictions.

A holiday let home mortgage provider will lend to a set percentage of the purchase price of the property and this is generally at the top end (Loan to Value) of alternate forms of finance, as of December 2020 the highest LTV available are 75-85%.

As a long-term product the rates often tend to be very competitive and the borrower is provided with a choice of a fixed or variable rate product. A fixed rate product allows the borrower to plan monthly expenditure; a variable rate product holds the advantage of a potentially decreasing monthly payment.

To read a post on factors affecting both serviced accommodation and holiday let mortgages click here.

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