Key Details

• Residential remortgage with permission to holiday let.
• Mortgage £240,000.
• Loan to value 12%
• Detached coastal home and annex.

Background

Our clients had swapped London life for the Norfolk coast several years ago purchasing detached home with an enviable position. To supplement their income, they began to holiday let their home for short periods each year.

Additionally, they were in the final stages of building a detached annex, once complete this would become a dedicated year-round holiday let, further bolstering their income.

Challenge

The clients wanted to explore more suitable mortgage options to allow for this unique mix of residential living (with occasional holiday letting) and the full-time holiday letting of the annex. At the same time, they wanted to borrow more to replenish savings used to fund the annex build.

To achieve the mortgage borrowing required we would need to use the client’s earned income and a portion of the forecasted holiday let income.

Solution

Drawing on our experience, the right lender presented itself in form of a specialist building society with a product range designed to consider quality enquiries that do not fit the mould. The clients now have a flourishing holiday let business.

Talk to us today

Speak with our consultants today for a better idea of what’s possible.

‍t. 020 8156 3166

e. luke@haydenblair.co.uk

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