Please note:

Holiday Let Mortgages

A dedicated range of mortgages available for holiday letting.

AVAILABLE TO INTERMEDIARIES ONLY

Holiday let criteria - key points

  • The primary applicant must either have a minimum primary income of £40,000 or a combined total of £60,000 for joint applicants
  • Rental income must be at least 145% of interest payable on the stress rate of;
    5.50% for purchases and capital raising remortgages
    5.00% for non-capital raising 'like-for-like' remortgages
  • Maximum portfolio size of 10 mortgaged rental properties, irrespective of lender
  • Maximum of 4 rental properties can be mortgaged with The Society, whether Buy-to-Let, Holiday Let or a combination of both
  • No maximum age at term end

For full details of our holiday let criteria, view our criteria guide.

 

2 Year Holiday Let Fixed Rate Mortgages

Initial rate fixed up to and inc. 31/12/23Then the Society's BTL Variable Rate less 1.00% discount up to and inc. 31/12/26, (currently)Then the Society's BTL Variable Rate thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
3.44% 4.59%5.59%5.1%60%£0 View
Max loan amount £500,000
3.79% 4.59%5.59%5.1%70%£0 View
Max loan amount £500,000
3.99% 4.59%5.59%5.2%75%£0 View
Max loan amount £500,000
RATES CORRECT AS AT 24 august 2021

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £120,000.00 payable over 25 years initially on a fixed rate for 2 years at 3.99% and then a 1.00% discount on our current Buy to Let Variable Rate of 5.59% giving a rate of 4.59% for 3 years and then on our current Buy to Let Variable Rate of 5.59% for the remaining 20 years would require 24 monthly payments of £399.00, 36 monthly payments of £459.00 and 240 monthly payments of £559.00.

The total amount payable would be £280,295.00 made up of the loan amount plus interest of £160,260.00 and application fee £0, product fee £0, valuation fee £0, funds transfer fee £35.

The overall cost for comparisons is 5.2% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Key details about this product range

  • Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender.
  • A product fee is payable on application (where applicable) but is refundable should the mortgage not complete.
  • A mortgage exit fee of £199 will apply.
  • Tapered Early Repayment Charges may apply.
  • Interest calculated daily.
  • When you're applying for an interest only mortgage, please be aware that you'll need to have a credible repayment strategy in place to pay off the loan and any interest accrued under the mortgage at the end of the term.
  • The products and services on this site are available to UK residents only.
  • Mortgage applicants must be 18 years or over.
  • Mortgages are subject to eligibility, status and financial standing.
  • Buy to Let mortgages which are for business purposes are exempt from FCA Rules.

For more detail about specific products, visit the links in the table above.

5 Year Holiday Let Fixed Rate Mortgages

Initial rate fixed up to and inc. 31/12/26Then the Society's BTL Variable Rate thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
3.40% 5.59%5.0%60%£999 View
Max loan amount £500,000
3.54% 5.59%4.9%60%£0 View
Max loan amount £500,000
3.99% 5.59%5.2%75%£999 View
Max loan amount £500,000
4.19% 5.59%5.1%75%£0 View
Max loan amount £500,000
RATES CORRECT AS AT 20 august 2021

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £180,000.00 payable over 25 years initially on a fixed rate for 5 years at 3.99% and then on our current Buy to Let Variable Rate of 5.59% (variable) for the remaining 20 years would require 60 monthly payments of £598.50 and 240 monthly payments of £838.50.

The total amount payable would be £418,184.00 made up of the loan amount plus interest of £237,150.00 and application fee £0, product fee £999, valuation fee £0, funds transfer fee £35.

The overall cost for comparison is 5.2% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Key details about this product range

  • Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender.
  • A product fee is payable on application (where applicable) but is refundable should the mortgage not complete.
  • A mortgage exit fee of £199 will apply.
  • Tapered Early Repayment Charges may apply.
  • Interest calculated daily.
  • When you're applying for an interest only mortgage, please be aware that you'll need to have a credible repayment strategy in place to pay off the loan and any interest accrued under the mortgage at the end of the term.
  • The products and services on this site are available to UK residents only.
  • Mortgage applicants must be 18 years or over.
  • Mortgages are subject to eligibility, status and financial standing.
  • Buy to Let mortgages which are for business purposes are exempt from FCA Rules.

For more detail about specific products, visit the links in the table above.

 

We have developed a set of short, easy-to-use guides to our criteria.

View our criteria guides »

Any questions?

Please contact your nearest Development Manager. Find your nearest Development Manager »