Second home mortgage

decsdad

Evening,
Anybody happen to know which lenders have the best (read highest)
LTV for second mortgages.
Any other advice welcomed too.
It's for a holiday home that only we will use.

ACG

I can not name lenders but there is definitely 90% LTV available with at least a couple of lenders.

decsdad

Thank you.
Anyone able to give me a clue ?

downhillfast

I think what ACG is saying (in their position as a mortgage broker) is that they know of lenders so other brokers probably do too.

amnblog

This is a tricky scenario. As ACG says most Lender will advance 75% on second homes, a few 80%, one I know of does 90%, and another 95%.

There is more to it than just picking a Lender however. Not least, the extra Stamp Duty Land Tax payable.

Those wishing to waste time and possibly money should go direct to Lender.

Others, should use a broker.

decsdad

Thanks all.
Yip, I'm aware of the fees including the SDLT extra 3% .
I could pay 25% deposit if needed, but I'd rather not. (House is costing £100k)

I'm tempted to just use BOS for the mortgage as I bank with them and am keen on a quick and hassle free process,but I could go to a broker for more choice and a likely slightly better rate.

I've never used a broker before, isbit a whole of market broker I need ?
How do they get paid ?
Thanks