Lending criteria.
We can help with all types of cases, so check our lending criteria for the latest guidelines.
Our criteria is split into residential and buy to let, so use the options below to find the criteria you need.
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Holiday Let
Accepted – maximum 80% LTV (product dependent).
Minimum income of £25,000 (£40,000 or equivalent if Expat).
Must be an owner occupier (please refer if not) – Owner occupier not required for Expat applications.
Holiday Let affordability is based on an average of low, medium & high seasons, x30 weeks (can be 35 weeks if let for the last 2 years on a Holiday Let basis by the applicants). Once you have the rental figure you will need to divide by 12 to provide the average monthly rental and use this for our standard ICR calculations.
We can accept Holiday Let applications where the property will be let via Airbnb or other letting options. Properties marketed via Airbnb will be subject to our existing rental coverage assessment, requiring a lettings agent (not Airbnb) to provide the known or anticipated letting value, exactly the same as a standard holiday let.
Letting agent letters will be required to provide the known or anticipated rental income.
We allow up to 60 days personal use for holiday lets.
Holiday Let Calculation
Average of High, Mid and Low weekly seasonal Rent, Multiplied by 30 weeks, divided by 12 to get a monthly rental figure. This figure then goes through our buy to let calculator.
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