ibs logo

Give us a call on 0330 123 1073

Monday - Friday 9.00am - 5.00pm

Coronavirus: important information

0330 123 1073

Mon - Thu 9am - 5pm
Fri 9am - 5pm
Sat 9am - 1pm

Holiday Let

We have temporarily restricted our lending criteria, for the latest updates and essential information during the COVID-19 pandemic read our FAQs.

Important information: your case and the stamp duty holiday

Ahead of the stamp duty holiday deadline on 31 March please be aware we cannot guarantee your client that their mortgage will complete in time to be eligible. This particularly applies for purchase applications and any remortgages where additional borrowing for any onward purchase is required. You must ensure your client is aware of this.

For information about the stamp duty holiday and rates which will apply from 1 April please ask your client to read this information.

Do you have clients looking to purchase a property to let out to holidaymakers? We've expanded our buy to let product offering to include a range of holiday let products.

First time landlords accepted but must be an owner occupier.

All products are available exclusively for properties in England and Wales purchased with the intention of letting for holiday purposes.

Please see below or visit our lending criteria for more information.

Holiday Let 3.90% 2 Year Discount Rate 80% LTV

  • VARIABLE RATE of 5.24% with a discount of 1.34% for 2 years then changing to Ipswich Standard Variable Rate (currently 5.24%)
  • 5.2% APRC
  • For purchase and remortgage up to 80% LTV
  • Minimum property value £100k, minimum loan £75k

24084, 24085

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£950 £199 Purchase: based on property valuation. Remortgage: FREE - £35 £500k

No charge for overpayments of up to 50% of original loan amount
Early repayment charge period ends 2 years from completion
Overpayment of 50% or above - early repayment charge is 1% of the overpayment
Redemption - early repayment charge is 1% of the original loan amount

For remortgage only: fee assisted legals


To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

Key features of our holiday let mortgages

  • Loans available up to 80% LTV
  • Minimum loan £75k, maximum loan £500k
  • Maximum term 30 years
  • First time landlords considered - applicants must own their own home
  • For new landlords, minimum age limit of 30 years applies. For existing holiday let or BTL landlords the minimum age is 21 years
  • Maximum of 3 rental properties (holiday let and buy to let); no portfolio landlords or limited companies considered
  • The property to be mortgaged must be on own title - no HMOs, no holiday parks, no occupancy restrictions, no Airbnb
  • We consider single dwellings only and properties must be of standard construction
  • The property must have an EPC rating of E or above (we will also accept properties that have EPC exemption – we will need to see an exemption certificate or confirmation that they are on the EPC exemption register). This is an exemption specific to the property and not just the exemption because it is/it will be let on a holiday let basis.
  • Flats or leasehold properties will be considered
  • The owner may occupy the mortgaged holiday let property for a maximum of 60 days per year for personal use
  • When calculating affordability the applicants' employed income, pensions, investments or additional sources of income can be taken into account. To calculate the rental coverage a Holiday Letting Agent letter will be required to confirm the low, medium and high season anticipated or known weekly rental income. An average of these will be taken and multiplied by 30 weeks (35 weeks if the property has been let by the applicant for 2 years or more) to give an indicative annual figure. The annual rental must provide a minimum of 145% rental coverage based on the mortgage product initial interest rate + 2% or a minimum of 5.5%, whichever is greater