Holiday Let 3.89% fixed for three years

A three year fixed rate Holiday Let mortgage to purchase or remortgage an investment property to rent out as a holiday let/Airbnb.

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    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.

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 75%, reduced to 70% for flats or apartments. 

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.

Properties with restrictive usage or holiday let covenants are acceptable. Properties with such covenants or with more than four bedrooms will also have a maximum 70% LTV restriction.

rate i
SVR (standard variable rate) i Overall cost for comparison i Max %
3.89% 5.44% 5.3% APRC 75% Interest only
  • See example

    Representative example: A mortgage of £215,000 taken out for a period of 20 years on an interest only basis.

    Monthly instalments: £696.96 per month for 35 months, followed by £978.27 per month for 204 months.

    Total amount payable: £441,213.18

    Total amount of credit: £215,000

    The total amount payable includes administration fee £125, valuation fee £340, product fee £1,612.50, completion fee £75 and closing fee £100.

    The overall cost for comparison is 5.3% representative APRC.

    This example relates to the Holiday Let fixed for three years product, is based on a typical mortgage and assumes that fees are not added to the mortgage. Please ask for a personalised illustration for your own particular requirements.

  • Availability - Purchase & Remortgage up to 75% Loan To Value (LTV). Minimum deposit of 25% required.
  • Flexibility - Overpayments up to 20% of the capital balance as at 1st January are allowed in each calendar year without penalty. 
  • Portable.

If you repay your mortgage early, or make an overpayment, you may have to pay an early repayment charge.

For full repayment, you will pay 3% of the outstanding balance in years 1 & 2, 2% in year 3, plus a Closing Administration Fee (currently £100).

For overpayments, you will pay 3% on any amount exceeding your 20% limit in years 1 & 2, and 2% in year 3.

  • Product Fee 0.75% of advance (Minimum £999).
  • Administration Fee £125.
  • Valuation Fee (scale).
  • Completion Fee £75.

Lending Criteria and Information


Size: Minimum £50,000, Maximum £300,000 at 75% and £300,000 to £500,000.00 at 65%
Term: Minimum 5 years, Maximum 40 years.
Repayment Type: Capital Repayment, Interest Only.


Minimum value is £100,000. The property must be in England or Wales and be of standard construction. No properties on sites. Flats or apartments up to 70% LTV at £300,000 or 60% at £500,000. Properties with restrictive usage or holiday let covenants are acceptable providing that they are used in compliance with that restriction. Properties with such convenants or with more than four bedrooms will have a maximum LTV of 70% LTV at £300,000 or 60% at £500,000. Must be in England or Wales.


Age: Minimum 25, no maximum, subject to income in retirement.


Household income must be at least £30,000.


Based on 75% annual occupancy. Rent to cover 130% of interest at pay rate.


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. We will consider holiday lets throughout England and Wales subject to acceptance by the Society’s valuer. Holiday lets with restrictive usage covenants are acceptable providing that they are used in compliance with that restriction.

Other information

You must be able to service your existing commitments from income without recourse to the rent from this property. If you have a Buy to Let or Holiday Let portfolio, you will need to demonstrate that this is self-funding.

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