Discover the best holiday let mortgages on the market
With the help of our experienced commercial mortgage brokers
Our experienced commercial mortgage brokers will find you the very best holiday let mortgages available – even those deals not generally available on the open market!
As holiday let mortgages are a niche offering, many of the high-street lenders do not provide them and you may struggle to find a good deal. Therefore, the simplest way to ensure you find the right mortgage at the right price is to use the experience of the brokers at FC Funding, the South’s leading commercial mortgage experts. Our years of experience and close contacts within the industry mean we can source you a fantastic deal personalised to your needs and we can even access specialist products not always available on the open market.
If you’re thinking about buying a property to rent out to holidaymakers, you’ll need to arrange a specialist holiday let mortgage. That’s because traditional mortgages don’t let you rent out the property for short periods of time and a buy-to-let mortgage is unlikely to be suitable as the affordability is usually calculated on the assumption it will be rented on an assured 6 to 12-month basis. As a holiday rental is leased on days and weeks, rather than months and years, and have fluctuations of income due to the different seasons, you’ll need to meet slightly different criteria in order to qualify for the loan.
Such criteria will vary from lender to lender but typically include:
Specialist holiday let mortgages’ terms and features may also differ from other types of commercial mortgages, such as:
One of the big advantages to holiday let mortgages are the tax benefits. A furnished property that is rented out for holidays is considered a business, meaning you can deduct all your expenses from your rental income before your tax assessment. This includes any interest you might be paying on your holiday let mortgage. It’s worth noting that the tax reliefs applied to buy-to-let mortgages are changing and becoming stricter for higher-rate and additional-rate taxpayers, a further reason many investors are turning to holiday lets instead.
If you’d like more information on holiday let mortgages or to discuss your circumstances with our professional brokers, call FC Funding today on 01202 937880.