Home Counties Mortgage Services specialise in arranging mortgtages on
United Kingdom holiday homes. Unfortunately the number of lenders who
can help you with your purchase is limited with typically no more than
half a dozen holiday let lenders currently operating in the market.
Each of these lenders have their own quite distinct and
different lending policies and quite simply we will match up your individual
circusmstances and profile to the lending policy of the individual lender.
The current maximum advance is 75% loan to value.
Most clients fund their deposit either through savings or by releasing
equity in their residential property.
Lenders will assess your application based on two main criteria
- Your Individual status taking into account occupation,
income and outgoings.
- The likely annual rental income for your property which
depending on the individual mortgage lender we approach should equate
to between 130% and 150% of the annual mortgage interest charge
Interest rates will vary depending upon the individual circumstances
of your application.
To find out how much you can borrow please call to speak
to one of our advisers
on 01494 716600, or request a call-back.
- The value of a property is generally a matter of opinion
and the true value may not be recognised until the property is sold.
It may be difficult to sell or realise the value of property in adverse
- Borrowers will still be responsible for maintaining
the payment of any mortgage in the event that the property is not rented
out and therefore may wish to make suitable provision for this event.
suggest you seek legal advice and advice on tax issues before purchasing
a property for this purpose.
- Past performance is not a guide to future performance.
The value of property investments and income from them can go down as
well as up and investors may not get back the amount originally invested.
Your home or property may be repossessed if
you do not keep up repayments on your mortgage.