Are you looking for a tailored solution to your unique holiday let mortgage needs? Whether you’re purchasing a short-term rental, a smallholding, or a part-commercial property, Swansea Building Society – through HCH Financial Services – offers bespoke mortgages designed to meet specialist requirements.
Mortgages available for:
Smallholdings
Part/semi-commercial properties
Multiple properties on the same title deeds
Properties with agricultural ties
Self-build and barn conversions
Airbnb properties
Homes with land or annexes
Holiday lets owned by limited companies
Personal income accepted if rental income doesn’t meet stress tests
Unlimited property portfolio sizes
Manual underwriting – no reliance on credit scores
All this – from a single, flexible lender!
Why choose Swansea Building Society?
HCH Financial Services connects you directly to the expert team at Swansea Building Society, which specialises in holiday let mortgages. Below are the key highlights of their lending criteria.
Key mortgage criteria:
Minimum mortgage term: one year.
Rental calculation: Based on actual or expected rental income.
Rental income must cover 125% of stressed mortgage payments for basic rate taxpayers or 145% for higher rate taxpayers.
Stressed payments are calculated as the product rate +2% or 5.5%, whichever is higher.
Personal income considered: To help assess affordability, personal income can be used in cases where rental income doesn’t meet the criteria.
Eligibility requirements:
Main applicant must be a property owner.
Annual income of at least £30,000 (excluding rental income).
Age limits: Maximum age at the end of the loan term is 75.
Minimum property value: £50,000.
Loan-to-value (LTV): The maximum LTV is determined by the lower of the purchase price or the property’s valuation.
Holiday letting agent’s letter: A letter detailing the potential income the property can generate is required and must be verified by the lender’s valuer.
Energy Performance Certificate (EPC): The property must have a minimum EPC rating of E (A–E).
Why work with HCH Financial Services?
Navigating the world of specialist mortgages can feel like a minefield. The HCH Financial Services team specialises in holiday let mortgages and is here to guide you through the complexities. Whether you’re looking to finance a single property or build a portfolio, our expert brokers provide personalised advice and strategies tailored to your needs.
Contact us
Ready to get started or have questions? Reach out to our expert team today:
Email: advice@hchfs.com
Phone: 0333 1234 536
Don’t let complicated mortgage criteria hold you back. Let HCH Financial Services simplify the process and help you achieve your property goals.
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