Mortgage that will allow a separate holiday let?

sandspider2000

Hi all

Just wondering if anyone can offer any advice. We're looking at a property that has a small holiday let in the garden (not part of the main house, a separate log cabin). I've just spoken to First Direct (my preferred mortgage co) and they will not allow mortgages in this situation - no part of the property can be rented, where the property is everything on the deeds, not just the house itself. I spoke to Santander too, and they will consider holiday lets, but it has to be referred to the underwriters. Can anyone recommend a (decent) mortgage company that would allow this? It seems like a no brainer, as the rental income would be a big help with mortgage payments!

Oh, and the property also has a 2 acre paddock, so this would need to be acceptable to the mortgage company too. (Though I don't imagine many would find it a problem...)

Thank you.

sandspider2000

I should add that we'd like to get a normal residential mortgage, not buy to let if possible...

Yorkie1

A holiday let is a commercial proposition and so you will struggle to get many residential products which permit this.

To be honest you're better off going to a broker.

The brokers on here are not allowed to recommend any lenders for posters' individual situations; it would break the rules of the forum and their professional obligations.

sandspider2000

Thank you.

I've got enquiries in with a couple of brokers. The general gist seems to be to class it as an annex, then let it later. But apparently it's down to the valuer / surveyor to decide whether it's an annex (OK) or a holiday let (not OK!) Seems a bit down to personal opinion.

Also surely a bit dodgy, as you should tell the mortgage co you were renting it in the future, and presumably they'd be suspicious?