If your client is looking to generate an income from their holiday home, while benefitting from regular getaways themselves, we’re here to help. With over 160 years of experience in financial services, we have vast knowledge of the Holiday Let mortgage market. Harnessing our expertise, we’ll work closely with you to understand your clients’ needs and deliver a solution that meets their requirements.
We offer a range of Holiday Let mortgage solutions, including fixed rate and discounted products. These products come with competitive rates, flexible lending criteria and up to 75% LTV. We’ve designed our Holiday Let mortgage products to ensure your clients can invest and generate income from Holiday Let properties.
Explore our Holiday Let mortgage products.
New Holiday Let Mortgage Customer Existing Holiday Let Mortgage Customer
Explore our Holiday Let mortgage criteria to find out how much your clients could borrow.
Discover our range of Holiday Let mortgage products.
Use our Holiday Let mortgage calculator to see how much your clients can borrow.
Call us today for more information about our Holiday Let mortgages.
As an independent mutual building society, we take pride in delivering lasting value and reliability to our intermediary partners and their clients. With more than 160 years of experience, we have a deep understanding of the unique requirements within the holiday let market. Our specialist expertise, flexible underwriting, and dedicated broker support are the reasons intermediaries continue to place their trust in us.
When it comes to holiday let mortgage cases, our knowledge, reputation, and broker-first approach make us a lender you can rely on.
We allow borrowers to occupy the property themselves for up to 90 days a year.
We assess Holiday Let affordability using an average of the high, mid and low expected seasonal rental income. A reputable holiday letting agency must provide confirmation in writing. We’ll then take an average of these seasons over a 30 week period to calculate the annual rental income. Agent’s letting fees should be deducted (or assumed as being 20% of gross rents if not available or confirmed). The net annual rental income must provide a minimum of 140% rental coverage based on 7.50%. For like-for-like remortgages the net annual rental income must provide a minimum of 125% rental coverage based on 6.50%.
Whilst we make our assessment based on the rental cover please note we have a minimum personal annual income of £20,000 which can be single or joint.
For Existing Holiday Let: Either existing trading figures in the form of certified accounts, a letter from the holiday letting agent confirming gross annual income for last 2 years, or SA100 tax document can be used.
Our Holiday Home mortgages are currently only for applicants who currently owned their residential homes. We do welcome applications from First Time Landlords though.
No. Long-term tenants fall under the category of the Buy to Let mortgage as tenants will be using the property as their main residence rather than a short term holiday.
Contact us by phone or email using the details in this section, or view our support pages below for more information.
Monday - Friday 9am - 5pm
You can also contact us at intermediary.mortgages@leekbs.co.uk
Monday - Friday 9am - 5pm
You can also contact us at mortgage.processing@leekbs.co.uk
