Mixed Use & Multi-Unit Holiday Lets

Finance to purchase or remortgage upto 75% LTV

Most holiday lets comprise of just a single residential property. A house, or flat or cottage perhaps.

However, there is also a different type of holiday let property – the mixed use and multi-unit holiday let.

What is a Mixed Use Holiday Let?

Mixed use means that the owner (you) lives permanently in part of the property and then rents out other parts as short-term lets or holiday lets.

Think of a large house that may have a self contained annexe.

What is a Multi-Unit Holiday Let?

Unsurprisingly, this is a single freehold title that has more than one building or dwelling that are commercially used as holiday lets.

So a large farmhouse with several converted barns or outbuildings for example.

What Mortgages are Available?

Mortgage finance is readily available but this tends not to be from the standard High Street types of lenders and most loan applications are considered on a case by case basis.

We find this is an advantage as we have access to the specialist mortgage underwriters and we can discuss your situation with them and pre-agree what is possible prior to applying. Yes the decisions are made by real people, not a computer!

We can arrange mortgages upto 75% loan to value (LTV) for purchase or remortgage. Applications are acceptable from individual/s, a partnership or limited company/SPV. The mortgage repayment method can be interest only or capital and interest.

The mortgage finance for these type of holiday let properties, particularly multi-unit properties, is mainly provided by commercial or specialist lenders operating in the hospitality/short-term letting markets.

Multiple holiday units on one title or properties across split titles, can all be financed.

Ready to chat? Please give us a call on 020 8301 7930

75% LTV

LTD CO. SPV

INTEREST ONLY

EXPERT ADVICE

The Good News is …

That we have lots of experience with these types of cases.

We have long established relationships with holiday let lenders who are happy to consider applications for mixed use, multi-units or both!

Why use Drake?

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Holiday Park Finance

Commercial finance suitable for freehold holiday parks.

Funds available for site owners to purchase, develop, refurb, refinance and expand.

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Kerry, Dawn and the rest of the team were brilliant. So responsive to communication and held our hand right the way through, even with post completion queries that as first buyers we had no clue about. Kerry was completely non-judgmental and just wanted the best for us. Would recommend Kerry and Drake Mortgages to anyone and we will be back for further help in future I'm sure!

Claire Saunders

I have enjoyed the benefits of extending my property portfolio with the advice from Norman Phillips and his team. I always trust their solutions and let them deliver the financial strategies needed.

Nicholas Thompson

Wimbledon
I am delighted to say that we finally completed on our new house on Friday. We just wanted to say thank you for your patience and such an efficient service, not to mention your skills in getting us such a great mortgage!

Jo

Bedford, Bedfordshire MK40
It’s great news. Many thanks for everything and your service as always. Will be back in touch when we next need your help.

Dean

Mitcham London CR4
The mortgage on our holiday let flat completed last week. Thank you both for your help with this, I appreciate all your efforts.

Wayne

Basingstoke, Hampshire RG21
Thank you so very much for your help. We have finally completed on our purchase. At last we got there. Your assistance was invaluable.

Rob

Muswell Hill, London N10