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, our individual approach allows us to offer holiday let mortgage lending up to 70% loan to value (LTV).

Landlords owning, or looking to buy a holiday let, can occupy the property themselves for up to 60 days per year.

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) requirements. 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. You might also be interested our holiday let case study.

As a result of the current Coronavirus situation, we have temporarily withdrawn this range of products. Whilst we currently have no products available in this sector, we still have a wide range of products available for both savings customers and mortgage borrowers looking to remortgage an existing property. We will be expanding our range of products again as soon as we can.

If you are still interested in this product range, let us know by completing an online enquiry form and we will contact you as soon as products become available.

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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 5.75%, 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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