Traditional residential mortgages don’t allow you to rent out your home, whilst Buy-to-Let mortgages are better suited to long-term rentals. 

To work out your affordability on a Buy-to-Let mortgage, an annual rental figure is used based on an assumed 6-12 month tenancy. This means that those wanting to buy a holiday rental won’t meet the criteria for a Buy-to-Let mortgage. 

Holiday-Let affordability, on the other hand, is calculated based on short-term rentals during key holiday seasons.

Note that Holiday-Let and holiday home mortgages are very different. If you simply want a holiday home, which won’t be let out, then you’ll need a second residential mortgage instead.

Our flexible approach means that, unlike some lenders, we include both your holiday rental income and personal income when calculating your affordability. Holiday-Let is different to Buy-to-Let, so you can't get a Buy-to-Let mortgage on a holiday rental property. 

To apply for a Holiday-Let mortgage with us, you’ll need to meet our eligibility criteria. Some things to look out for are:

• You need to already own your own home.
• Have a projected rental income of at least 125% of the interest payable on the holiday let mortgage.
• Earn a minimum income of £30,000 per year.
• The holiday let property must be valued at a minimum of £125,000. 

Please also note that we are only able to lend up to a maximum of four Holiday Let mortgages per individual borrower or eight properties between joint borrowers. 

To discuss our full criteria or if you have any questions, please give our team a call on 0800 781 4311. You can also compare our Holiday-Let mortgage rates online using our mortgage finder.

Not only do we consider your gross rental income, as well as your personal income, when calculating your affordability but our Holiday-Let mortgages come with many other advantages, including:

• Personal use allowed for up to 90 days per year 
• Mortgages considered on an interest-only or repayment basis
• Available on properties across England, Scotland and Wales
• Maximum loan to value (LTV) of 75%

Currently, we’re only able to offer Holiday-Let mortgages on properties in England, Scotland and Wales. 

Please note that the Society is currently unable to accept purchase applications for Holiday Let properties in Scotland. Remortgage applications can be taken but the Society will require sight of a valid short term lending licence.

This will depend on the mortgage that you take out with us. More information about the fees that may be included can be found on our mortgage fees and charges page.