Holiday Let Mortgage Brokers

Having a holiday home to rent out to tourists and holidaymakers can offer many long-term benefits, such as an additional source of income, which can offer greater financial security, and tax benefits. Whilst the prospect of purchasing a holiday property to rent to others can be exciting, the task of finding a suitable holiday let mortgage can often feel stressful and overwhelming – it is a niche type of mortgage with specific lending criteria. Whilst mortgage lenders that offer holiday let mortgages are often specialist banks and small building societies as opposed to big, high-street names, our independent brokers can still source bespoke products to suit your circumstances and needs.

Here at Avail Mortgages, we have a team of mortgage experts that are dedicated to helping our customers find the right mortgage for them. With their expertise on the holiday let mortgage market, and impartial, yet reliable, advice, they can help you to find a holiday let mortgage loan that fits your needs and circumstances. With decades of combined experience as independent mortgage brokers, we’ve built strong relationships with many lenders over the years and, as a result, you’ll have access to a range of bespoke policies and exclusive offers when you choose Avail Mortgages.

holiday let mortgage brokers

All of our fully qualified brokers work in line with the principles that are set out in the ‘Treating Customers Fairly’* (TCF) initiative laid out by the Financial Conduct Authority* (FCA). By following these principles, you know that when you choose to work with one of our specialist brokers for holiday let mortgage advice, you will receive an outstanding service every time. Whilst holiday let mortgages are a specialist type of lending, we understand that finding the right option for you may feel overwhelming. That’s why we’re committed to delivering a service where your needs are the focal point – we want you to feel supported and informed throughout the process so that you can make an informed decision about the right mortgage for you.

Whatever type of mortgage you’re looking for, we will make the process straightforward and hassle-free thanks to our modern approach to mortgage advice. We offer our services in the North, in areas such as Sheffield, and across the UK, so if you need professional and reliable advice on holiday let mortgage products, call us on 0330 118 0383 or get in touch online today.

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What Is A Holiday Let Mortgage And How Does It Differ From Other Mortgage Products?

This mortgage product is designed for those that are interested in buying a property to let out to others – such as holidaymakers – on a short-term basis, using the rental market as a way to make an additional income by offering their property out as holiday accommodation. Standard residential mortgages are not suitable for holiday homes that you would like to let, as they do not allow homeowners to use their property for rentals. Usually, lenders will only offer a holiday let mortgage to those that have their property in the UK, and so a different product may be required for those that need an overseas mortgage for their property. This mortgage also differs from a buy-to-let mortgage and mortgages for holiday homes that will not be rented out to others.

A holiday home mortgage is not a suitable product if you’re buying a second property for your use only, without the intention of making any holiday rental income by letting it out on a short-term basis to others. If you already own a property, you will likely need a second home mortgage for your holiday home. However, some lenders do offer bespoke products that are specific to holiday homes which are also worth considering with the assistance of one of our independent brokers. Lenders will likely have stricter affordability criteria for you to meet during the application process* for a second mortgage, as you already have monthly repayments to make for your first one. Not all providers offer second home mortgages either, but we can help you to source the most appropriate solution for you, thanks to our network of trusted lenders.

A holiday let is also different from a buy-to-let mortgage, which is designed for those with a rental property that would like to let it out on a long-term basis. With a buy-to-let, the lender will usually consider an annual rental figure for the property, presuming that it will be rented out on a shorthold tenancy for between six to 12 months. As you’ll be renting your holiday home out for much shorter periods to multiple tourists and holidaymakers, a buy-to-let mortgage is probably not the right solution for you. Instead, you need a holiday let mortgage, such as the ones we offer here at Avail Mortgages,  which is a specialised product designed for the purpose of renting out a holiday property.

Because a holiday let mortgage is a specialist solution, lenders will often have very specific requirements and detailed criteria that you must meet. For example, some lenders do not provide mortgages for properties on sites, and so properties on holiday parks can present challenges when seeking a holiday let mortgage. Because of these requirements and challenges, discussing your needs with a mortgage adviser is essential, and that’s where the mortgage brokers here at Avail Mortgages are on hand to help. We’ll take time to understand your circumstances and your type of property, before helping you to find a mortgage product that may be suitable. We know you need a specialist mortgage, but that doesn’t mean that the process has to be stressful. We’ll provide you with all of the information you need at every stage of the process so that you can make a fully informed decision regarding the most suitable product for you and your holiday home.

Avail holiday let mortgage brokers

Can I Afford A Holiday Let Mortgage?

When it comes to accessing your affordability for a holiday let mortgage, each lender will have its own set of criteria for you to meet in order to be granted the loan. However, there are usually factors that are considered across most lenders. These include your annual income, age, loan size, loan to value (LTV) and the expected rental income. Each lender will use their own formula, or mortgage calculator, to work out the maximum amount that you can borrow from them. Usually, you can borrow up to 75% of the value of your holiday property, meaning you would need a deposit of 25%. The mortgage rate of a holiday let tends to be higher than those of a traditional mortgage but, as the market becomes increasingly competitive, lenders are offering lower rates.

As well as this, most lenders will usually only offer holiday let mortgages to current homeowners, however, there may be some exceptions. With the help of one of our specialist brokers, we can help you to find a mortgage product that may be a suitable solution, with attractive rates. Similarly, if you are an expat or a limited company looking for a holiday let mortgage, there are specific products out there that are tailored to you. Our advisers will discuss your options with you in detail, based on your own set of circumstances, so that you can make an informed decision about the solution that is suitable for you.

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As with all property purchases, there are additional costs that should be considered when assessing your affordability. These include lending fees, legal charges, valuation fees, insurance for your holiday home and stamp duty – there are a myriad of costs that go beyond the property price. However, despite these costs and challenges, there is still a demand for holiday lets as, providing that you can afford a holiday property and the associated costs, they, more often than not, make a worthwhile investment.

If you are in a position to let out a holiday home and you can afford a holiday let mortgage, there are so many benefits to investing in this part of the rental market. If it’s always been your goal to have a holiday home in a desirable location, renting it out when you aren’t staying there can be a great way to earn an additional income. Having multiple streams of income, which is true for those that work and rent their holiday home, can provide greater financial security. If you’re interested in reaping the benefits of renting out your holiday property, our highly qualified brokers will provide all of the advice and guidance you need to find the right holiday let mortgage to make it happen.


Why Choose Avail?

Since we were established back in 2018, we’ve been proud to offer tailored services that help our customers to find the right holiday let mortgage for them, based on their property, their financial circumstances and their needs. Each of our services is built on a foundation of impartiality, reliability and honesty – we’ll provide honest advice and reliable information, to help you make the right decision regarding your mortgage. Regardless of the type of mortgage or insurance policy you need, by working with one of our highly qualified brokers you’ll have access to a range of bespoke policies from key providers within our network of trusted contacts.


Our approach to offering advice and support is entirely flexible – we’ll be here whenever you need us. We understand that life can get hectic and if you do own a holiday home, we know that this will certainly keep you busy. That’s why we’re committed to working flexibly around you and your needs, contacting you at a time that is convenient.


As a part of our commitment to making the mortgage or selection process as streamlined and as easy as possible, we use technology to implement our forward-thinking approach here at Avail Mortgages. As a client, you’ll have access to our online portal where you can find all of your important documents and information whenever you like.


Our team has over 35 years of combined experience, so we understand the importance of providing a service that cuts out the jargon and gets straight to the point of finding you a mortgage product, or an insurance policy, that is suitable for you and your needs. Our impartial, reliable brokers are passionate about sourcing suitable solutions for their clients and finding you a holiday let mortgage is no exception.

Get In Touch

Wherever you are, we’re here to help you. Whether you’re based close to our office in surrounding areas such as Harrogate, Leeds, Bradford and York, or further afield across the UK. If you’re interested in finding out more about holiday let mortgages, or any other type of mortgage or an insurance policy, then our team would love to provide you with the advice and guidance that you need. Whether you have any further questions or would like to begin the process of finding a product for you, then contact us online, by calling 0330 118 0383 or by emailing [email protected].