Unlock Your Dream Holiday Property with Expert Mortgage Guidance for your holiday let mortgage
Holiday Let Mortgages: Unlock the Potential of Your Dream Holiday Home
Why Choose Acorn.finance for Your Holiday rental Mortgage?
Expert Advice and Guidance;
Tailored Mortgage Solutions
Competitive Rates and Flexible Terms
Seamless Application Process
Understanding Holiday Let Loans
Benefits of a Holiday Home Mortgage
- Higher Rental Yields
- Holiday lets often generate higher rental income compared to long-term rentals, particularly in popular tourist destinations and popular business locations.
- Flexible Usage
- Enjoy the flexibility of using the property yourself during off-peak times, providing a personal retreat while also generating income.
- Property Access
- Shorter lets mean you have regular access to the property to deal with any maintenance issues or for your own usage.
How to Qualify for a Holiday Let Mortgage
Property Criteria
The holiday property mortgage lender may require the property to be available for a minimum number of nights per year.
Some lenders will only lend if the property could also be used as a standard let.
We also have specialist lenders for properties on holiday parks.
Affordability
Lenders take into account your personal income but the projected rental income from the property will be most important.
The affordability calculations for your holiday home mortgage will be primarily based on the property income, either through the accounts or an assessment from a rental agency.
Credit History
A good credit history is great to get you the best holiday property funding package, although we can help explore options for those with less-than-perfect credit.
If you’re not sure it’s good to check your credit report before you apply.
The Acorn.finance FUNDED System: Your Path to Success for your holiday let mortgage
- FACTS: We make a full financial assessment bearing in mind our panel of holiday home mortgage lenders.
- Understand: We take the time to understand your financial situation and goals. Not just in the short term but also your long term goals.
- Negotiate: We negotiate with holiday let lenders to secure the best rates and terms for your situation.
- Details: Our professional finance brokers will ensure you understand the details of the mortgage.
- Execute: We’ll guide you through the final steps, efficiently setting up your holiday home mortgage.
- Deliver: We provide ongoing support to help you manage your mortgage and maximise your holiday let investment.
How much will your holiday home mortgage cost?
How much will your holiday home mortgage cost?
Example interest rates for holiday property mortgages.
- Our lowest holiday let interest rate is currently 3.85%
- Average rates are around 5.00%
- More difficult cases (non-homeowners, clients with some adverse credit etc.) from 7.59%
Case Study: Coastal Holiday Cottage
Sarah and John
Case Study: Short Let City Apartment
Michael
Property:
Ready to start your Holiday Let Mortgage Application?
Holiday Home Mortgages – Frequently Asked Questions
What is a holiday rental mortgage?
Any property being let on a short term basis could be suitable for a holiday home mortgage. It could even apply to properties which are let to contractors or short term workers – otherwise known as Serviced Accommodation.
Can I use the property myself?
Will a mortgage only be possible in certain locations?
No, although some lenders will only support areas with good tourist appeal, others will let you purchase wherever the property is, we’ll just have to ensure that the income will cover the mortgage payments comfortably.
How is a holiday let mortgage different to a normal buy to let mortgage?
The mortgage will allow for short term lets, in many cases it will have a maximum stay within it’s terms (let us know if you’d like more flexibility or to flip between tenancies and holiday makers).