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Ltd Company Holiday Let variable for 2 years

An opportunity to add to your property portfolio by purchasing a Holiday Let through a limited company or SPV (Special Purchase Vehicle) with this two year variable mortgage.

Get an idea of how much you can borrow with our affordability calculator. The calculator will work out the maximum amount you could borrow by using a 5 year fixed rate to calculate the highest mortgage possible. Where a 5-year fixed rate is not available, the lowest rate will be used, stressed at +2%. Please contact the team to discuss your specific circumstances.

The Society is one of a handful of Lenders who offer specially designed mortgages for properties that are used as holiday homes. The property must be in England, Wales or mainland Scotland and be of standard construction and have a minimum value of £100,000. The maximum loan-to-value (LTV) is 70%, reduced to 65% for mortgages over £300,000.

We do not lend on properties on sites but can consider Airbnb arrangements if the whole property is rented rather than a single room. Also, you can use the property for up to 60 days per year.


The mortgages listed below move on to our Standard Variable Rate, 5.60% (variable), after the initial rate period.  Our SVR is increasing to 5.75% (variable) from 1st July 2022.

There may be a limit on how low your interest rate can fall. This is called an ‘interest rate floor’. The interest rate floor applicable to your loan will be specified in your loan documentation.

rate i
Discount from SVR iOverall cost for
comparison i
Max %
type i
4.20%1.40%5.6% APRC70%Interest only and repayment options available
See example

Representative example: A mortgage of £245,000.00 taken out for a period of 25 years on an interest only basis.
Monthly instalments: £857.50 per month for 23 months, followed by £1,147.60 per month for 276 months.
Total amount payable: £583,954.10.
Total amount of credit: £245,000.00.
The total amount payable includes valuation fee £395, product fee £1,999 and closing fee £100.
The overall cost for comparison is 5.6% representative APRC.
This example relates to the Ltd Company Holiday Let 4.20% variable for two years product. It is based on our current Standard Variable Rate of 5.60%, with no fees added to the mortgage.

Please ask for a personalised illustration for your own particular requirements.

Monthly payments calculator

Use the calculator to find out what your monthly payments might be based on the mortgage product and the type and term of your borrowing.

Mortgage details

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Please scroll down for monthly payments by product.

This is the maximum amount based on the information you provided. Your mortgage adviser will take you through the application process and will calculate the amount you can afford to borrow based on your income after the deduction of those expenses and commitments. Further restrictions may apply for specialist products.

  • Key features
    • Availability – Purchase & remortgage up to 70% Loan To Value (LTV). Minimum deposit of 30% required.
    • Flexibility – Overpayments up to 20% of the capital balance as at 1st January allowed in each calendar year without penalty.
    • Portable.
  • Early repayment

    There are no early repayment charges for this mortgage but a closing fee, currently £100.00, which is payable when repaying the mortgage in full.

  • Product fees
  • Lending criteria

    Lending Criteria and Information

    Loan:Size: Minimum £50,000, Maximum £300,000 at 70% LTV and £500,000 at 65% LTV
    Term: Minimum 5 years, Maximum 40 years.
    Repayment Type: Capital Repayment, Interest Only.
    Property:Minimum Value: £100,000. The property must be in England, Wales or mainland Scotland and be of standard construction. No properties on sites. Flats or apartments up to 70% LTV at £300,000 and 65% LTV at £500,000. Properties with more than 4 bedrooms will have a maximum 70% LTV at £300,000 or 65% LTV at £500,000
    Applicant:The Society will consider applications from a Limited Company subject to the following:

    · The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)

    · We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate

    · We require a copy of the Certificate of Incorporation

    · A copy of the Resolution of the Board will be required confirming agreement to the mortgage

    · Layered companies will not usually be acceptable

    · A personal guarantee will be taken from all Directors

    · The Company must be registered in the UK and all Directors must reside in the UK

    · The Society will usually require separate legal representation for new borrowers

    Income:Household income must be at least £30,000.
    Rental:The calculation is based on the actual or expected rental on an AST basis. Rent must cover 125% of the ‘stressed mortgage payments’. The stressed mortgage payment is based on product rate +2% or 5.5% whichever is higher.
    Underwriting:We take a flexible approach to underwriting and will consider each case on its merits. We do not credit score. The actual rate and APRC for your case will depend on your circumstances and our assessment of the risk.
  • Proc fee

    We will pay a gross procuration fee of 0.35% on all introduced business. The fee is usually paid within five working days following completion. Procuration Fees may vary for our recognised Clubs & Packagers.

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How to apply

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This section is for use by professional Intermediaries only. If you are a customer please visit our Mortgage section.