Are holiday let mortgages regulated?
No, holiday let mortgages are not usually regulated by the FCA.
You will need a holiday let mortgage if the property will mainly be let out for short periods, to paying guests/holidaymakers. This means it is an investment property (like a buy to let) and therefore does not fall within the Financial Conduct Authority regulations.
The FCA regulations exist to protect a borrowers own home and do not provide protection for holiday lets, buy to lets, HMO’s etc where it is not your primary residence.
HOW CAN WE HELP?
Choosing a mortgage is an important financial decision and it’s easier with someone who’s on your side. We work as a whole of market mortgage broker so that you get the best possible choice of mortgages.
DRAKE MORTGAGES ARE EXPERT BUY TO LET MORTGAGE BROKERS
We are experienced whole of market brokers who can help you get a great holiday let mortgage.
We can also give you access to exclusive schemes and some specialist lenders who don’t deal direct with borrowers. Loans are available to individuals and SPV’s upto 75% and we can help with Scottish properties, mixed use, multi-lets and Airbnb.
Bridging loans are one of the most useful, multi-purpose, types of lending solutions available. You can get a bridging loan approved on almost any property for almost any reason. Great for auction purchases or snapping up a buy to let bargain.
And we can arrange them really fast.