Holiday home mortgages - Holiday home finance

Holiday home mortgages - Holiday home finance

Holiday home mortgages and holiday home finance is a specialist area within Capital Fortune. We understand that purchasing a holiday home is an important finance decision and there are a number of holiday home mortgage options available. A holiday home purchase can be undertaken using a variety of holiday home mortgages and finance products and UK home mortgage lenders have developed specific holiday home mortgage finance loans to assist with a second home purchase.

It is not commonly known that certain mortgage lenders will allow you to purchase a holiday home through:-

A second residential holiday home mortgage
A Buy to Let holiday home mortgage
A Secured Home Loan or secured holiday home finance
An Interest Only Holiday Home Mortgage

It is important to obtain a holiday home mortgage or home finance that will best youre your needs.

There are a number of mortgages for holiday homes available allowing you to purchase a second home, some of which can be seen through our online mortgage service. However a holiday home mortgage may not be the most suitable or affordable way to finance a holiday home purchase.

It is important to seek professional and impartial information from a suitably qualified mortgage adviser and we can take you through the many options to finance and mortgage holiday homes.

We can only recommend a holiday home mortgage be it a second home mortgage or buy to let holiday home mortgage once we have assessed your full needs and requirements. We will both need to be satisfied that during the purchase process, the additional financial commitment which a holiday home purchase brings, is both affordable and suitable.

Mortgage for holiday homes - Buy To Let

Purchasing a holiday home may also be carried out using a Buy To Let mortgage. This type of holiday home mortgage is set up for people who want to finance the holiday home property and who are likely to recoup much of the monthly repayments through the rental income they make.

Our buy to let FAQ may answer some of your specific questions in relation to this type of holiday home mortgage and again your Capital Fortune Adviser will be able to assist with any queries.
In addition to holiday home finance, people can also purchase a holiday home through a loan. This type of loan is unsecured and due to its unsecured nature can be more expensive.

Following our assessment of your needs we would be able to recommend whether a holiday home mortgage or a holiday home loan is the most appropriate financial product for you when purchasing a second home.

In addition to unsecured finance, a secured loans can also be used to purchase a holiday home. A secured loan is usually secured against your current residential property. This type of loan is very similar to a standard mortgage but it means that if youâ're unable to make a payment, you're at risk of losing both homes. It is therefore important to look at the affordability of supporting both your first and the holiday home mortgage prior to purchasing.

If youre looking for a holiday home mortgage to purchase a second home it can be overwhelming just how many different choices there are. You can use a bank, building society or holiday home mortgage company, for your second home purchase.

Seek Specialist Advice

At Capital Fortune we are specialists in giving impartial mortgage advice. We understand the dreams when purchasing a holiday home, we also understand the pitfalls. It is important to consider whether purchasing a second home is right for you.

We will be able to discuss with you all the reasons for purchasing a second home and give you advice on the most suitable and affordable options around second home purchase

If you need any assistance why not speak to one of our Mortgage Advisers by calling 020 3 216 2037 or Enquiry Online.

How to get in touch

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Selected Holiday Let Mortgages

A selection of some of our lenders mortgage products and rates are shown below. Contact us for a quote specific to your circumstances. Table data updated 04/04/2016.

CodeIntial
Rate
Mortgage
Type
For /
Until
Subsequent
Rate
APRCEarly
Repayment
Charge
Fixed Lender
Fees
% Lender
Fees
Notes
001 2.10% Discount 2 Years 5.99% 5.19% 3% of loan to be paid within first year, Then 2% of loan to be paid for next year, 10% capital repayments allowed per year without penalty. £199 None

Max 60% loan to value

Min personal income of £40,000

Max Loan £500,000

002 2.10% Fixed 30/04/2018 4.99% 4.73% 3% of loan to be paid until 30/04/2018 £994 None

Max 60% loan to value

Min personal income of £20,000

Max Loan £250,000

003 2.80% Fixed 30/04/2018 4.99% 4.85% 3% of loan to be paid until 30/04/2018 £895 None

Max 75% loan to value

Min personal income of £20,000

Max Loan £250,000

004 4.49% Discount 2 Years 5.49% 5.5% 2% None 0.75%

Max 70% loan to value

Min personal income of £25,000

Loans to £1M