Mortgage for holiday let

onlyroz

This is a completely hypothetical question (at the moment at least) but how would you go about getting a mortgage for a holiday let in (e.g.) Cornwall? For example would it be possible to get a buy-to-let mortgage for a property which you would use yourself for some of the year and rent out to holiday-makers at other times? Would the potential rent be taken into account for affordability purposes, or would the lenders only go by your income, taking account of your primary residential mortgage?

ACG

Your quite limited on lenders, but the rates are typically the same as BTLs.

I know one lender takes average rent for high/mid/low season then works out an average and that would need to 125% of the monthly repayments.

glosoli

Lender I work for does offers holiday lets on buy to let interest rates.

When a valuation is instructed for a buy to let, the report comes back with a rental figure. In the instances of a holiday let, we instruct a residential valuation.

The affordability is done asif the customer was applying for a residential mortgage.