By Howard Reuben, Principal, HCH Financial Services
The majority of lenders provide residential mortgages, while a smaller tranche also offer buy to let products. An even smaller panel operate in the holiday let mortgage category – and not all of them will allow borrowing through a limited company. That particular pool could be described as a puddle!
With the proposed abolishment of the furnished holiday lettings tax regime approaching, now is the time to search the mortgage market and get your ducks in a row to ensure the best value lending and the most tax efficient investment strategy.
At HCH Financial Services, we can provide you access to the most appropriate lenders and products. One such product is currently being offered by Bath Building Society, which provides holiday let mortgages to both personal name and limited company borrowers. Bath Building Society will also consider remortgaging an existing holiday let property for home improvements or the purchase of another property.
Here are the key facts:
Two-year fixed rates start at 6.25%
Five-year fixed rates start at 5.89%
Variable rates start at 6.39%
Up to 75% LTV
Fees: £999 (personal name borrowers) or £1,499 (limited company borrowers)
Personal use of the property is permitted for up to 60 days per year
Even from a small pool of lenders, there is still a wide choice of products, strategies, and future-proofing to be secured – but you need to know where to look, who to talk to, and which lenders work directly with consumers or offer products exclusively through specialist brokers like HCH Financial Services.
Get in touch with our team today to discuss your business plan:
Call: 0333 1234 536
Email: advice@hchfs.com
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