THE INFORMATION ON THIS WEBPAGE IS FOR THE USE OF PROFESSIONAL INTERMEDIARIES ONLY

Holiday Let

23/08/2017

Gross rental income must cover the mortgage payment (calculated at the the Society’s BTL stressed rate on an interest only basis) by a minimum of 130%. For the purpose of HBTL, gross rental income shall be;

  • In the case of an existing holiday let (purchase or remortgage), a minimum of one year’s gross rental income verified by an approved accountant, or
  • In the case of a new holiday let, confirmation of potential income and the % occupancy rate from a letting agent with relevant experience in the area of the property, taking 40% as a maximum occupancy rate or the letting agents figure, if lower

The property must be free of any planning restrictions that limits use to holiday home use only

Details of any company managing and/or marketing the property will be required

The requirement for an assured shorthold tenancy agreement is not applicable