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Mortgage & Equity Release - Call Us 0117 403 4474

What is your mortgage for?

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Details sort by initial rateLenderInitial rate Rate type Overall cost for comparisonMax LTVProduct feeMonthly cost Enquire
Initial rate: 0.84%
Rate type: Fixed 26 months
Monthly cost: £554.51 per month
Max LTV: 60%
Product fee: £749
Overall cost for comparison: 3.0% APRC
Santander logo 0.84% Fixed 26 months 3.0% APRC 60% £749 £554.51 per month get quotes Call us0117 403 4474 More details
Initial rate: 0.84%
Rate type: Fixed 26 months
Monthly cost: £554.51 per month
Max LTV: 60%
Product fee: £749
Overall cost for comparison: 3.0% APRC
Santander logo 0.84% Fixed 26 months 3.0% APRC 60% £749 £554.51 per month get quotes Call us0117 403 4474 More details Broker Only Deal
Initial rate: 0.88%
Rate type: Fixed 26 months
Monthly cost: £557.20 per month
Max LTV: 60%
Product fee: £1,999
Overall cost for comparison: 3.7% APRC
Cumberland BS logo 0.88% Fixed 26 months 3.7% APRC 60% £1,999 £557.20 per month get quotes Call us0117 403 4474
Initial rate: 0.88%
Rate type: Fixed 26 months
Monthly cost: £557.20 per month
Max LTV: 60%
Product fee: £1,999
Overall cost for comparison: 3.7% APRC
Cumberland BS logo 0.88% Fixed 26 months 3.7% APRC 60% £1,999 £557.20 per month get quotes Call us0117 403 4474
Initial rate: 0.89%
Rate type: Fixed 27 months
Monthly cost: £557.87 per month
Max LTV: 60%
Product fee: £999
Overall cost for comparison: 3.2% APRC
HSBC logo 0.89% Fixed 27 months 3.2% APRC 60% £999 £557.87 per month get quotes Call us0117 403 4474 More details
Initial rate: 0.89%
Rate type: Fixed 24 months
Monthly cost: £557.87 per month
Max LTV: 60%
Product fee: £995
Overall cost for comparison: 3.9% APRC
Progressive BS logo 0.89% Fixed 24 months 3.9% APRC 60% £995 £557.87 per month get quotes Call us0117 403 4474 More details Broker Only Deal
Initial rate: 0.89%
Rate type: Fixed 26 months
Monthly cost: £557.87 per month
Max LTV: 70%
Product fee: £999
Overall cost for comparison: 3.0% APRC
Santander logo 0.89% Fixed 26 months 3.0% APRC 70% £999 £557.87 per month get quotes Call us0117 403 4474 More details
Initial rate: 0.89%
Rate type: Fixed 26 months
Monthly cost: £557.87 per month
Max LTV: 70%
Product fee: £999
Overall cost for comparison: 3.0% APRC
Santander logo 0.89% Fixed 26 months 3.0% APRC 70% £999 £557.87 per month get quotes Call us0117 403 4474 More details Broker Only Deal
Initial rate: 0.91%
Rate type: Fixed 25 months
Monthly cost: £559.22 per month
Max LTV: 60%
Product fee: £999
Overall cost for comparison: 3.2% APRC
Barclays Mortgage logo 0.91% Fixed 25 months 3.2% APRC 60% £999 £559.22 per month get quotes Call us0117 403 4474 More details Broker Only Deal
Initial rate: 0.94%
Rate type: Fixed 26 months
Monthly cost: £561.24 per month
Max LTV: 60%
Product fee: £995
Overall cost for comparison: 3.2% APRC
Ulster Bank logo 0.94% Fixed 26 months 3.2% APRC 60% £995 £561.24 per month get quotes Call us0117 403 4474
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Representative Example:

A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.

 

The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).

 

In this example the overall cost for comparison is 3.7% APRC representative.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Can I Get A Mortgage For A Holiday Home

No matter if you’re looking for a rural retreat or a house on the beach, you may be wondering if you can get a mortgage for a holiday home. While the answer is yes, the process is not quite as straightforward as getting a residential mortgage for your main residence or even for a buy to let, but there are a few specialist mortgage lenders out there to help fund the purchase of a holiday home.

Investment Property

If you’re intending to purchase a holiday home as an investment property you will find that many of the larger lenders do not have a suitable product, requiring all buy to let properties to work under an ‘assured short hold tenancy’ agreement, which is not suitable for letting to holidaymakers, there is also an inherent higher level of risk due to the fact that occupation can be sporadic and the rental yield of the property van fluctuate considerably at different times of the year.

Specialist Lenders

There is however a range of specialist mortgage products from certain building societies as well as specialist lenders specifically designed for holiday homes. It may however be helpful to consult an impendent mortgage adviser to help you secure the right mortgage for a holiday home. A good whole of market mortgage adviser can not only offer you impartial advice but they can use their expert knowledge to search across the whole of the mortgage market to fish out the most suitable products for you.

Holiday home mortgages can be particularly complicated, as they can vary considerably between lenders for instance some will only be willing to offer finance for properties located within certain geographical areas on the United Kingdom. Others may place limit on the maximum amount of days per year the property can actually be let out as a holiday home, possible making some options only suitable if you primarily want the property for your personal use.

They may also need the borrower to fit specific criteria such as having a minimum income of £20,000, already be a homeowner , you may also be required to put down a deposit of at least 25-30% of the property value.

Affordability Criteria

Often with holiday let mortgages, affordability is calculated from potential rental yield, as such you may be asked to supply a letter from a reputable holiday company estimating what the rental income of the property could be in both the high and low season, with the average yield per month being at least 125% of the monthly mortgage payments, lenders may also factor in to their affordability calculation things such as the inherent costs involved with operating a holiday let such as; cleaning, maintenance and advertising.

If you think you may benefit from speaking to a mortgage adviser, you can fill in our online contact form to request a call-back for a free initial consultation from a Fair Mortgages adviser, or you can get in touch with us directly by calling: 0117 403 4474

Our Holiday Home Mortgage Service

Use our specialist broker team to raise capital for home improvements:

  • Whole of market service - we work with UK lenders who will lend for holiday home purposes
  • Access to leading market mortgage rates
  • Access to exclusive loan deals not available on high street
  • Fast turnaround - speak to us today if you need to move quickly
  • Looking to raise additional finance on top of your existing mortgage or buy to let mortgage? - we have access to a range of finance solutions

To investigate your mortgage options for raising finance for a holiday home call our mortgage team or fill in our call back form.

"The essence of the Fair Mortgages service is professional independent mortgage and protection advice brought to you by a team of specialist advisers and experienced administration support. 

As your mortgage is such an important transaction, good advice is imperative.

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