| Property | Three-bedroom stone cottage |
|---|---|
| Location | St Agnes, Cornwall |
| Client | London couple buying their first holiday let, with some personal use |
| Product | Holiday let mortgages |
The challenge
Lenders assess holiday lets on projected short-term rental income, not a standard monthly rent. The couple also wanted to use the cottage themselves for a few weeks a year.
What we did
We obtained low, mid and high season income projections from a local holiday letting agent to support the application. We chose a lender that allows limited personal use and accepts first-time holiday let owners who own their home. We also flagged changes to the tax treatment of furnished holiday lets, and they spoke to their accountant.
The outcome
The purchase completed in time for the summer season bookings.
Holiday let mortgagesMortgages for short-term and holiday lets, including furnished cottages and city serviced lets.
Learn moreImportant: Most buy-to-let mortgages are not regulated by the FCA. Your property may be repossessed if you do not keep up repayments, and a receiver of rent may be appointed.