YOUR HOLIDAY LET MORTGAGE broker

Since 2006 Drake Mortgages has been the UK’s leading specialist broker for holiday let mortgages and holiday home finance.

YOUR HOLIDAY LET MORTGAGE BROKER

Since 2006 Drake Mortgages has been the UK’s leading specialist broker for holiday let mortgages and holiday home finance.

holiday letting mortgage specialist

We are the UK’s leading finance broker for holiday let mortgage advice

The right advice

Holiday let mortgages are more difficult to arrange than normal mortgages and are also very different from standard buy to let mortgage schemes. In fact you cannot use a buy to let mortgage on a property used for holiday lettings. The main reasons are that there is no AST and the holiday rental income cannot be calculated using normal criteria. You will also find some holiday let properties have a usage restriction at the Local Authority.

However, as an independent mortgage broker specialising in UK holiday home mortgages we are able to arrange finance at competitive terms with the morgage based on the holiday property’s rental income. We also have a number of exclusive mortgage products available. Our in depth knowledge will guide you through the lending criteria and best rates from the UK’s specialist lenders in this market.

Holiday lettings is recognised as a business (generating earned income) by the Inland Revenue, unlike other forms of property letting (such as buy to let) which the Inland Revenue class as investment income (unearned income). There are some valuable tax incentives for letting your property as a holiday home, but there are some specific Inland Revenue rules which you must follow to qualify.

If you would like to discuss holiday let mortgages, buy to holiday let or holiday home mortgages then please call us on 0800 840 3111 or complete our online enquiry form.

Holiday Let Mortgages

For more information and some example case studies, please visit our dedicated Holiday Let Mortgages website at

 

www.holidayletmortgages.co.uk