A mortgage designed to allow the purchase or re-mortgage of residential holiday lets.
People looking to purchase or re-mortgage a residential holiday let in Scotland.
Mortgages are available for residential properties. All mortgages are subject to a suitable property valuation, the minimum being £50,000.
We can lend up to 80% of the purchase price or property valuation (whichever is lower).
The minimum loan size is £50,000 and the maximum is £350,000.
How much could I borrow?
Maximum loan 80% of lower valuation or purchase price.
- Up to 50% of holiday let rental income may be included in the affordability calculation where there is a track record.
- Rental income must be verified.
- Minimum income (non-property related) for at least one applicant must exceed £50,000.