Flexible Approach

Mortgages assessed by expert underwriters, not computers.

Use it Yourself

You can occupy the Holiday Let property for up to 60 days per year.

Personal Income

Personal income/wealth considered.

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At The Mansfield, we offer holiday let mortgages up to 70% loan to value (LTV).

Many people like the idea of owning a holiday home, where they can earn income from renting it out and use it themselves too, however there is a lot to consider. Landlords owning, or looking to buy a holiday let, can occupy the property themselves for up to 60 days per year with us and we will need to assess the seasonal rent from occupancy as part of the affordability (see below).

Holiday Let Mortgage Criteria

Our holiday lets are available across England and Wales. Properties used for holiday lets must have a minimum property value of £150,000 and qualify as a Furnished Holiday Let under HM Revenue and Customs (HMRC) definition. Lending on holiday parks or complexes, B&Bs, AirBnB and properties subject to title, local or occupancy restrictions are excluded.

We assess affordability for holiday let mortgages based on a proportion of the annual average of Low, Mid and High Season income and we can take into consideration earned income or other personal wealth. For more information please see section 5 of our Buy to Let Mortgage Guide.

Our available holiday let mortgages are below. To find out more, call us on 01623 676345.

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1. Initial Rate

The Initial Rate is the rate available during the initial term of the mortgage. Once the initial rate term has expired, the mortgage will revert to our Standard Variable Rate (SVR). Our SVR is set by us and is currently 5.35%, as a variable rate it may go up or down.

2. Overall Cost for Comparison

The Overall Cost for Comparison is given as the Annual Percentage Rate of Charge (APRC) and includes all charges incurred relating to the mortgage. The APRC is intended to help you as a borrower compare the interest rates on different products.

3. Max LTV

Like all other mortgage lenders, we will allow you to borrow against a proportion of the overall property value. This is known as Loan to Value (LTV) and is expressed as a percentage. For example, if you want to purchase a property at £100,000 and you would like to borrow £85,000, then you will need a mortgage available at 85% Loan to Value (LTV). The available LTV can vary depending upon the type of mortgage. Shared Ownership mortgages will offer two percentages under LTV - the proportion of the property value and the proportion of the share being purchased.

Your home may be repossessed if you do not keep up repayments on your mortgage

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