Holiday Let Mortgages
It was quite an easy decision to make….the run of the mill mortgage brokers really were not 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 Holiday let mortgages can be a complex area of finance given the differences between lenders on period of occupation, location, loan to value and rates. Typically, clients we successfully assist tell us of the difficulty they have in arranging competitive holiday let mortgages. Some clients tell us they've been offered a standard buy to let mortgage for their holiday let despite the conditions on buy to let mortgages preventing holiday lettings. Generally our clients want to let the property for a week or a fortnight at a time. They may also sometimes wish to use the property at times for their own use.
Capital Fortune are a blessing...I feel like I’ve got the best rate on the market and a very personable and friendly service.
Reuben, South London, SE27 We regularly place clients with these requirements. Holiday let applications do often require a greater degree of negotiation with national lenders, the underwriters, their panel surveyors and property valuers. Clients appreciate there is a limitation on the number of lenders in this specialist market and they understand the fact that many do not openly advertise their available products direct to customers. They appreciate that many lenders offering mortgages on holiday let properties have a significant number of restrictions, not only on the letting period, but also have stringent requirements on both the rental achievable and/or the client's own earned income.
They arranged a re-mortgage for us…. which was unusual and certainly must have been difficult. It went through smoothly, more smoothly than any other mortgage I've 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 to undertake a re-mortgage. They do not understand why the vast majority of lenders will not consider their individual circumstances or why they have been inappropriately advised to obtain a standard buy to let mortgage, when such mortgages require the property to be let on a minimum 6 month tenancy agreement.
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 lending criteria. Importantly, we appreciate the ambiguities and difficulties in this area of UK lending and work to provide an appropriate solution. We regularly assist clients with mainstream and complex finance and we are UK specialists in arranging mortgages for clients with non standard requirements.
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 Broker Prime and Best UK Mortgage Adviser at the prestigious Money Marketing Financial Services Awards and British Mortgage Awards respectively.
There are three stages to our award winning process:
|Typically clients using the service, tell us they want to discuss their current situation and take us through any difficulties they may have. We can quickly give an indication as to the feasibility of what they are looking to do, undertake detailed research on the potential rates, confirm we can safely assist and importantly, express how we operate.|
|2||Approval in Principle|
|This stage involves completing a 45 minute Mortgage Fact Find questionnaire over the phone to fully assess needs and requirements. Once complete, we undertake research across a comprehensive panel of lenders to recommend the right mortgage. A detailed illustration is provided which we will take you through. If you are happy with the illustration we will then request documents from you to support the application. On receipt of the documents we will obtain formal approval in principle from the lender.|
|We will process your full mortgage application and liaise directly with the lender on your behalf. We organise the valuation and deal with any issues that may arise during the mortgage application.|
We still appreciate however, we are not right for everyone and typically we best assist clients
- With non-standard/non-traditional requirements;
- That are time pressed and need the most competitive and quick results; or
- That just need an independent guiding hand through the minefield of products to obtain them the most competitive deal and to assist them through all the complexities within the mortgage process.
We pride ourselves on delivering advice which is accurate, tailored to your situation and fully compliant with Financial Conduct Authority (FCA) guidelines and best practice.
For help and assistance, call us today on 0207 710 0400 to speak to one of our Mortgage Advisers.
Find out current best rates
|0.99%||Discount||2 years||4.99%||4.4%||2 years||£2149|
|0.99%||Discount||2 years||4.75%||4.3%||2 years||£0|
*APR = Annual Percentage Rate *ERC = Early Repayment Charge
*These figures are only illustrative. An assessment of your needs will be confirmed before a recommendation can be made. A Key Facts Illustration, which is personal to your circumstances, will be provided if a recommendation for a mortgage product is made.