Case study: Furnished Holiday Let

Our Furnished Holiday Let range could be suitable for your UK and expat clients who are looking to invest in a furnished holiday let property in the UK to let out for short-term occupancy. Here's how we helped support Tony and Adelle with a Furnished Holiday Let solution. 

Meet Tony and Adelle…

Tony, 52, and Adelle, 58, run a family business and wish to invest in their first holiday let property.

What is their lending problem?

They’ve found a flat in Windermere above a commercial premises and are struggling to find a lender who’ll accept this. They want to borrow £150,000 on a property worth £525,000.

What was our solution?

Our standard policy is not to accept flats above commercial premises; however, as holiday lets are a business proposition, we’re happy to review on a case-by-case basis. This property was in the heart of Windermere so would be very attractive to holiday makers, so we were happy to proceed.

The applicants met our minimum income requirement of £25,000 and no personal affordability assessment was required as the potential rental income was sufficient. We could offer an interest only mortgage to Adelle’s 85th birthday. Tony and Adelle were also able to stay in the property for up to 90 days annually.