In April, we diversified our lending portfolio by launching into the Furnished Holiday Let market for both UK and expat applicants. With the holiday let market continuing to grow, we’ve increased our maximum LTV from 70% to 75% across both our Furnished Holiday Let and Expat Furnished Holiday Let ranges to support more of your clients looking to invest in a property (please note, we have a 60% LTV restriction on flats).

No personal affordability assessments

Whilst we have a minimum income requirement of £25,000 per application, we don’t carry out personal affordability assessments. We base our decision to lend on an average of 30 weeks’ rental income over a low/medium/high season and a minimum rental income of 145% at 5.5% (125% at 5.5% for properties purchased prior to 2017).

We don’t credit score either, which works especially well for expat clients who may have been living abroad for several years and may struggle to evidence credit history. Our underwriters look at every case and use a common-sense approach to judge your client’s profile.

Applicants aged from 21

As we don’t assess individual affordability, we’re happy to consider applicants from age 21 and right up to age 85 at the end of the term (please note, our maximum term is 35 years).

For your clients looking to use their furnished holiday let as a base, we allow them to reside in the property for up to 90 days a year. We also have no regional restrictions and will lend throughout England and Wales.

We’re happy to accept first-time landlords (however applicants residing in the UK must own a main residence in the UK) and we’ll also consider clients who have other mortgaged holiday or buy to let properties, as long as they have no more than 3 (including their current application).

You can find out more on our Furnished Holiday Let criteria page, or to view the range of products currently on offer, visit our Furnished Holiday Let and Expat Furnished Holiday Let product pages.

Got a case in mind?

We’re here to answer any questions you may have, so whether you have a case in mind or want to talk about our products and criteria, we’re happy to help – just get in touch.