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Coronavirus: important information

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Holiday Let

We have temporarily restricted our lending criteria and withdrawn a number of our mortgage products, including those for holiday let. For the latest updates and essential information during the COVID-19 pandemic read our FAQs.

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.

Loans are available up to 80% LTV for purchase or remortgage from £75k up to £500k.

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.

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
  • 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