Unlock Your Dream Holiday Property with Expert Mortgage Guidance
Getting the perfect serviced accommodation or holiday let mortgage
Investing in property is complex, made more so by the myriad of investment options available.
Acorn.finance have many years owning and funding holiday lets, so we understand your needs, issues and pain!
With more than 40 lenders on our holiday let specialist mortgage panel and other business and property lenders we’ll be able to make your holiday property dream into a reality.
How much could I borrow?
Typically mortgages of up to 75% loan to value (LTV) are available. But some lenders will offer up to 80% in key areas.
However it is possible to borrow up to 100% of your holiday let property if you have equity in your buy to let portfolio or residential property.
Your repayments will come from the property income which we’ll help you to assess. That means that your own income can be less important for a mortgage than it is for a residential property. Lenders sometimes have a minimum income for the applicants but they generally set it at a reasonable level.
We have holiday let mortgages for first time investors, portfolio owners and ex-pat investors, so whatever your funding need, you can trust Acorn.finance to get the right holiday let or serviced accommodation mortgage.
Can I stay in the holiday property myself?
Yes – holiday let mortgage lenders normally allow 6 to 8 weeks personal usage per year. If you’re going to need more than that then check in with your Acorn.finance advisor to make sure we approach an appropriate lender for your situation.
I’m not sure if I want to offer Serviced Accommodation or a traditional tenancy – can I change my mind?
Many lenders need you to commit to one or the other business model. If you’re not sure there are lenders offering serviced accommodation mortgages who will allow the flexibility to change later so let your advisor know that’s what you’d prefer.
Find out more about standard buy to let mortgages if you’re not sure which way to go.
Considerations around serviced accommodation and holiday let mortgages;
How will you let the property?
Servicing the property?
If the property is local, will you be able to handle changeovers yourself? If not will you have to employ an agency?
Fully managed properties can still be profitable but ensure you understand exactly what you’ll be paying out before you sign.