Author Archives: Mark Lanario

What is a holiday let mortgage?

What is a holiday let mortgage?

Mortgages offered on a holiday let basis contain clauses specific to the business of holiday letting. So, as an example, their mortgage offers contain a clause disallowing any form of long term letting on an Assured Shorthold Tenancy (AST) basis. So the property can be used as a holiday but cannot be used as a [read more]

Availability of 75% LTV Holiday Let Mortgages increases

If our November and December 2019 mortgage business is an ongoing trend, then buy to holiday let mortgages at 75% LTV are going to be very much in demand during 2020. 75% LTV holiday let mortgages accounted for 92% of all business transactions over this period During the last recession, there was a long period, [read more]

How much deposit do I need for a holiday home?

This question is one that we are frequently asked, and the answer very much depends on how the potential borrower intends to use their holiday home. Typically, if the property is a true holiday or second home, that is or will be used only by the owners, their friends and non-paying guests, a minimum of [read more]

Renovation Mortgage: Refurbishment of an unlettable property in Scotland

Bridging finance

Renovation Mortgage Case Study Ben’s Case. We were contacted by an inexperienced developer, that was looking for some finance to purchase an unlettable, renovation property in the Argyll and Bute area of Scotland. The property was a large 9 bed detached property. The purchase price was £600,000 A local NHBC registered builder had already provided [read more]

Buy to Let Property Investment

In the Budget of 2015, the Chancellor, George Osborne, made an announcement that rocked the buy to let property investment market to the core. Tax relief for residential landlords was changing. A Landlord’s ability to claim finance costs against rental income was being reduced in a bid to make buy to let property investment a [read more]

Bridge To Let

Calculators

Bridge To Let In an article that we posted last month, entitled “Refurbishment Finance” the narrative mentioned the recent Buy-To-Let tax changes which are negatively affecting landlords. The changes were announced in the budget of 2015 and implemented through an instrument in UK Tax Law called “Section 24”. The changes have been sensationalised in the [read more]

Refurbishment Finance

refurbishment finance

Renovations, refurbishments and conversions: Finance Options In this article we will look at the finance options available for property refurbishments, restorations and conversions of commercial, semi commercial buy to let (BTL) and Holiday Let property and specifically not for buying property for use as a primary residence which either requires upgrading immediately, or is just [read more]