Holiday Lets
WHAT IS A HOLIDAY LET MORTGAGE?
A Holiday Let Mortgage is designed for purchasing or refinancing properties rented out short-term to tourists or travellers. Unlike standard residential mortgages, it accounts for the fluctuating income from holiday rentals.
This type of mortgage requires the borrower to provide evidence of potential rental income and usually demands a higher deposit. Lenders typically assess these loans based on rental projections rather than the borrower’s income, making them ideal for investors in tourist heavy areas.
Key Benefits
PURPOSE & USE
Funds early project assessments
Covers feasibility studies and surveys
Addresses pre-planning approval costs
FEATURES & BENEFITS
Short-term duration (months to a year)
Higher interest rates may apply
Bridge to long-term financing
CONSIDERATIONS & RISKS
Mitigates pre-development financial burden
Enables initial project groundwork
Transition to long-term financing after approvals
GET IN TOUCH
WHY CHOOSE CLEVER COMMERCIAL?
Experienced. Trustworthy. Tailored.
Clever Commercial is an award-winning property finance brokerage with over 30 years of experience. Competitive rates, flexible solutions, and outstanding service—let’s build your future together.
Clients trust us because we’re invested in their success. We’re more than brokers—we’re partners.
FREQUENTLY ASKED QUESTIONS
What is a short-term loan for refurbishment – change of use?
It’s a temporary loan designed to renovate a property to change its purpose, such as converting a commercial space into residential units. It covers refurbishment costs and potential income loss during the transformation.
How does loan duration impact refurbishment projects?
Short-term loans for refurbishment typically have durations of one to three years. The timeframe is chosen to align with the project’s scope, providing quick access to funds for the necessary changes.
Can I use this loan for commercial to residential conversions?
Yes, these loans are suitable for changing the use of a property, including commercial to residential conversions. Funding can cover renovations, compliance with regulations, and any income loss during the transition.
Are interest rates higher for short-term refurbishment loans?
Yes, interest rates may be higher due to the short-term nature and potential complexities of refurbishing a property. The convenience and quick access to funds for the transformation are critical factors in the interest rate.
OUR CLIENTS THOUGHTS
RECENT TESTIMONIALS
Marc worked over many months to help me find the right financial product to suit my complicated refinancing project. Having identified the right product, Marc then worked for many more months to help me get the financing completed. I had so many issues that I had to face and at every obstacle Marc was on hand to help me to resolve it, and very often took it upon himself to do it for me. Marc went for beyond just brokering a good deal for me, he was my partner in making this happen. I could not have done this without his support. Thank you Marc for being so calm and patient and having faith when I had lost mine!
I. Knight
Marc has provided our company with excellent service and advice. He has vast experience and knowledge, and is able to advice on the most suitable lenders given our requirements.
Especially during the legal stage of the lending process, he facilitates and communicates with lenders in a way we would not be able to ourselves.
We would certainly not be where we are without his services. Highly recommended.
M. Dunn
The service provided for my bridging loan was second to none. The support I received was very professional and generous.
I would highly recommend Clever Commercial to everyone and anyone who needs a professional, caring and competitive rate for it’s loan or any kind of finance.
D. Dezfull
Marc has provided our company with excellent service and advice. He has vast experience and knowledge, and is able to advice on the most suitable lenders given our requirements. Especially during the legal stage of the lending process, he facilitates and communicates with lenders in a way we would not be able to ourselves. We would certainly not be where we are without his services. Highly recommended.
P. Strøm