Mortgages for Holiday Lets

Mortgages for Holiday Lets

Mortgages for Holiday Lets - Capital Fortune is a bespoke mortgage broker based in the City of London specializing in securing mortgages on property intended for Holiday Let.

Typically, our clients realize the difficulty obtaining residential holiday let mortgages and may have been offered a standard Buy To Let product. They may have a current Buy To Let deal and need to change the mortgage because they do not wish to breach lender mortgage conditions.

They want to let the property, but not on long term 6 month tenancy agreements. They may also wish to use the property at times for their own use.

They appreciate there is a limitation on the number of lenders in this specialist market and the fact that many do not openly advertise their available products to customers or brokers. They understand that many lenders offering holiday lets have restrictions on the period of let and have stringent requirements on both rental and earned income. They may also have encountered difficulties with the loan to value.

Clients using our service, often tell us of additional problems when they want to use the property as their own second home and they wish to secure the mortgage on residential and not commercial rates. They are often unsure where to start and want guidance to obtain the best available rates in the market and also to ensure they do not fall foul of the lenders conditions or invalidate the property insurance when let to holidaymakers. They may have spoken to other people before making contact.

     We are now on our second mortgage with Capital Fortune and recommend them to friends and family EHB, London

As a comprehensive panel of lenders broker in this area, we know our lenders and criteria and understand the ambiguities and difficulties in this area of lending. We regularly assist clients in similar situations, with mainstream and complex holiday let finance and we are UK specialists in holiday let mortgages. Our Advisers will take you through all the options available and all relevant fee structures. You can then decide. You can call us on our national number or a request a call back online, using the general enquiry form or call back request.

     It was quite an easy decision to make.the run of the mill mortgage brokers really werent going to be able to help me on this one. I would recommend Capital Fortune to any one asking and I do so too Joe Crosby, Golders Green

We have been voted the Overall Adviser of the Year for the largest UK mortgage and protection network, two years in a row and have recently won a national industry award for Excellence in Treating Customers Fairly. A number of our clients watched us on BBC TV Newsnight and supported our shortlist nomination for Best UK Mortgage Adviser at the prestigious Money Marketing Financial Services Awards 2011.

     They arranged a remortgage for us. which was unusual and certainly must have been difficult. It went through smoothly, more smoothly than any other mortgage Ive taken out RH, Stanmore

Clients making contact with us in similar situations, typically tell us of their frustration at the current restrictions on holiday let mortgages. They usually have an appropriate income and will receive additional supplementary holiday let earnings to support the mortgage. They usually have a healthy deposit for a purchase or significant equity for a remortgage. They do not understand why the vast majority of lenders will not consider their individual circumstances or why they have been advised to obtain a standard buy to let mortgage, when such mortgages require the property to be let on a minimum of 6 month tenancy agreements.

Holiday let mortgages can be complex given the differences between lenders on period of occupation, location, loan to value and rates. We have successfully placed clients with the same issues. These applications require a greater degree of negotiation with the lenders, the underwriters, their panel surveyors and valuers. Our relationships with specialist finance providers and Banks, allow us to discuss your case with them directly saving you time, money and disappointment. We will immediately know which lenders are likely to accept your needs and requirements and which providers will agree our application. To discuss all the options on holiday let mortgages, simply call us or request a call back online, whatever suits you best.

     Capital Fortune are a blessing..I feel like Ive got the best rate on the market and a very personable and friendly service Reuben, South London, SE27

For assistance on our Holiday let mortgages, call us today on 020 77 100 400 or Enquiry Online .

How to get in touch

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Selected Holiday Let Mortgages

A selection of some of our lenders mortgage products and rates are shown below. Contact us for a quote specific to your circumstances. Table data updated 04/04/2016.

CodeIntial
Rate
Mortgage
Type
For /
Until
Subsequent
Rate
APRCEarly
Repayment
Charge
Fixed Lender
Fees
% Lender
Fees
Notes
001 2.10% Discount 2 Years 5.99% 5.19% 3% of loan to be paid within first year, Then 2% of loan to be paid for next year, 10% capital repayments allowed per year without penalty. £199 None

Max 60% loan to value

Min personal income of £40,000

Max Loan £500,000

002 2.10% Fixed 30/04/2018 4.99% 4.73% 3% of loan to be paid until 30/04/2018 £994 None

Max 60% loan to value

Min personal income of £20,000

Max Loan £250,000

003 2.80% Fixed 30/04/2018 4.99% 4.85% 3% of loan to be paid until 30/04/2018 £895 None

Max 75% loan to value

Min personal income of £20,000

Max Loan £250,000

004 4.49% Discount 2 Years 5.49% 5.5% 2% None 0.75%

Max 70% loan to value

Min personal income of £25,000

Loans to £1M