Holiday Let Mortgages

Looking for a Place in the Sun?

HOLIDAY HIDEWAY DREAMS WITH OUR HOLIDAY LET MORTGAGES

Holiday Hideaway

Being based in Cornwall we know everything about Holiday Let Mortgages. Whether you’re buying a beach front apartment in Truro, a rental cottage in the Welsh mountains or a lakeside house in Scotland, the Mortgage Advice Center can help you with all your holiday hideaway dreams.

Here at the Mortgage Advice Center, we’ll help you get your foot firmly on the Holiday Let ladder, so that you can start investing in your future.

What to consider with a Holiday Let Mortgage

Our advisers will help you identify the most suitable lender depending on your circumstances. Different providers apply varying criteria based on personal income, deposit size and how rental income from the property is assessed. This is particularly relevant in coastal locations such as Newquay, where seasonal demand and occupancy levels can influence affordability calculations.

To get the most out of your initial discussion, it is helpful to obtain projected rental income figures from a holiday let agent covering low, mid and high season. This allows a clearer view of potential borrowing levels, especially in areas such as Newquay where rental performance can vary throughout the year.

Most lenders require at least a 25% deposit and a minimum income threshold. Self-employed applicants are typically expected to provide two years of accounts.

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Are Holiday Let Mortgages different to Buy To Let?

Yes. Holiday let mortgages are assessed differently from Buy to Let mortgages, and lender criteria can vary. While buy to let lending is usually based on long-term tenancy income, holiday let mortgages are often assessed using projected seasonal rental figures.

Lenders may consider occupancy levels, weekly rates and how income performs across the year. Deposit requirements can also differ. Understanding these differences before committing to a purchase helps avoid complications, and careful lender selection can make the process more straightforward.

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