Holiday let mortgages or holiday home mortgages can be hard to arrange and tend to be excluded from standard buy to let mortgage schemes. The main reasons are that there is no AST and the holiday rental income cannot be calculated using normal criteria. You will also find some holiday let properties have a usage restriction at the Local Authority.
However, as an independent mortgage broker specialising in UK holiday let mortgages we are able to arrange holiday let mortgages at competitive terms with the morgage based on the holiday property’s rental income. We also have a number of exclusive holiday let mortgage products available. Potential holiday let investors now have an easier way of owning a holiday home.
Holiday lettings is recognised as a business (generating earned income) by the Inland revenue, unlike other forms of property letting (such as buy to let) which the Inland Revenue class as investment income (unearned income). There are some valuable tax incentives for letting your property as a holiday home, but there are some specific Inland Revenue rules which you must follow to qualify.
If you would like to discuss holiday let mortgages, buy to holiday let or holiday home mortgages then please call us on 0800 840 3111 or complete our online enquiry form.
For more information on holiday let mortgages and some example case studies, please visit our dedicated Holiday Let Mortgages website at www.holidayletmortgages.co.uk
The UK’s premier broker for holiday let mortgages
Holiday home insurance
If you run a holiday let business then you need to have the correct holiday home insurance in place. Our UK based insurance partners can offer advice on the best property insurance for your situation. Click here for more information.
The Financial Conduct Authority does not regulate holiday let mortgages