What is a second home mortgage?
A second home mortgage is very similar to the mortgage for your main residence and is used to buy a holiday home for your family and friends to enjoy.
Depending on the lender you will be able to choose variable, fixed and tracker interest rates. There are quite a few lenders to choose from and as independent brokers we can help select the one that’s right for you.
Second home mortgage deposits tend to be higher than for residential mortgages so budget for 15-20% which equates to a mortgage loan to value of 85%-80%.
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.