Holiday Let

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 or Wales 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. 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.

If you have a client you think may benefit from our flexible service, please call us on 01225 475702 to discuss the details. In most cases we will provide you with a decision straight away and we will email you the application forms and all the other documentation you will need. There is no need to register with us to use this service.

Product Name

The overall cost for
comparison is:

Rate structure based on our Standard Variable Rate




Early Repayment Charges

2 year Holiday Let 0.30% Discount

5.6% APRC

4.49% variable for 2 years followed by
Standard Variable Rate (SVR), currently 5.44%.

Purchase & Remortgage
up to 75% Loan To Value (LTV). Minimum deposit of 25% required.

Overpayments up to 20% of the capital
balance as at 1st January are allowed in each calendar year without penalty. Portable.

  • Product Fee 0.75% of advance (Minimum £999)

  • Administration Fee £125

  • Valuation Fee (scale)

  • Completion Fee £75.

3% in year 1, 2% in year 2, plus a Closing Administration Fee (currently £100).

An example: A mortgage of £241,000 taken out for a period of 24 years on a repayment basis.

Monthly Instalments: £1,371.21 per month for 23 months, followed by £1,500.73 per month for 264 months.

Total amount payable: £430,383.05

Total amount of credit; £241,000

The total amount payable includes product fee £1,807, valuation fee £395, administration fee £125, closing fee £100 and completion fee £75.

The example 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.

We have no current plans to withdraw these products but they may be withdrawn without notice. Ask for a personalised illustration.

Lending Criteria and Information


Size: Minimum £50,000, Maximum £300,000 at 75% LTV and £500,000 at 65% LTV
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 and 60% LTV 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 covenants or with more than 4 bedrooms will have a maximum 70% LTV at £300,000 or 60% LTV at £500,000.


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.

Procuration Fees:

We will pay an uncapped procuration fee of 0.35% of the amount borrowed to directly authorised and regulated intermediaries on completion of the mortgage. Where the intermediary is an Appointed Representative, the fee will be paid to the Principal. In the event of a change of Principal for any reason, the fee will be paid to the firm responsible for the information or advice at the time the sale was made.

For further information, please contact the Mortgage Sales team on 01225 475702 or via email at