Mortgages

Holiday let mortgages are designed for property owners that intend to rent a holiday home to tourists and business guests. The difficulty for most property owners, however, is finding a mortgage lender that offers holiday let mortgages.

The majority of high-street mortgage lenders do not offer holiday let mortgages. What’s more, the handful of building societies that do have strict rules that place limitations on applicants.

Lenders on the open market will only authorise holiday let mortgages if the applicant can show the loan will be repaid. What’s more, they only grant holiday let mortgages to applicants that have a portfolio of no more than four rental properties.

The best way to secure a favourable mortgage for your holiday let is to consult an experienced mortgage broker. ICF mortgages have access to hundreds of holiday let mortgages that are not available through high-street lenders and we have the expertise to ensure your application is successful.

Holiday Let Experts

The problem most landlords encounter when applying for this type of mortgage is that lenders are very cautious. Whilst this is understandable from the view of a financial institution, the real issue is that holiday let landlords do not provide sufficient information that makes lenders feel confident about authorising a loan.

Before a lender will agree a holiday let mortgage, they want to be assured the lending criteria will be satisfied. Our experienced mortgage brokers know how lenders assess holiday let applicants and can assist you with your application.

We will also help you calculate annual rental projections and determine the rate you will need to charge customers to cover mortgage repayments across the course of a year, taking into account the fluctuation of income throughout the seasons. We can also provide advice about the terms of a policy so you can plan how the mortgage can be repaid.