More about our Holiday Let mortgage products
Teachers Building Society specialises in Holiday Let mortgages – specialist in-house underwriters mean we’re not reliant on a computer generated response, allowing us to consider more unusual mortgage applications. You can take advantage of:
- A variable rate, currently 2.99%, which is discounted by 3.00% from our Buy-to-Let Standard Variable Rate for the first 2 years. It then changes to our Buy-To-Let Standard Variable Rate, which is currently 5.99%, and remains on our variable rate terms for the rest of the mortgage. The overall cost for comparison is 5.7% APRC representative.
- No arrangement fee & free valuation.
- Lending up to £1 million at 75% LTV.
- Minimum income of £25,000 or for joint applications a combined income of £40k.
- Maximum age at end of term 83.
- Lending is calculated on projected average rental income. For remortgages, we use 100% of rental received.
- Property can be marketed for rent through AirBnB type platforms.
You can call 0800 378 669 or arrange a call with us by completing the form below.
A mortgage of £172,000.00 over 27 years initially on a discounted variable rate of 2.99% (equal to a 3.00% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.99% for the remaining term, would require 24 monthly payments of £428.57 and 300 monthly payments of £856.27.
The total amount payable would be £439,290.80 made up of the loan amount plus interest (£267,180.80) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00.
The overall cost for comparison is 5.7% APRC representative.