holiday let - mortgage and remortgage - how to apply

Application checklist

You should use this when sending in an application - available to download here: Application checklist

Application form

Available to download here: Application form

Direct Debit mandate

Available to download here: Direct Debit mandate

Asset and liability statement

Available to download here: Asset and liability statement

A Guide to Mortgages

Available to download here: A Guide to Mortgages

Insurance undertaking

Please note that the sum insured must be maintained at a minimum of the full re-building cost of the property, based on the latest valuation report and that the Society’s interest as mortgagees must be noted on the insurance policy - available to download here: Insurance undertaking

Your solicitor

Your solicitor should be on the Society’s approved panel. If not, we can look to add them to the panel provided that they have at least 4 regulated partners. Please go to the Law Society’s website to find a suitable solicitor by clicking here.

Valuation fees
Purchase Price (up to) Total Valuation Fee Payable
£50,000 £205
£100,000 £240
£150,000 £260
£200,000 £295
£250,000 £330
£300,000 £370
£350,000 £410
£400,000 £440
£450,000 £470
£500,000 £505
£600,000 £600
£700,000 £655
£800,000 £710
£900,000 £765
£1 million £820

Please note that for some properties, additional costs may be incurred, dependant upon distances travelled. If the property value is higher than those shown in the scale of fees, the Society will need to obtain a quotation from a local valuer.

Tax advice

You may find the HMRC page on taxation on furnished lettings useful - go to it by clicking here.

Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it

Cumberland Building Society and Cumberland Financial Services Limited are authorised and regulated by the Financial Services Authority and are entered in the Financial Services Authority’s Register under Register Numbers 106074 and 200391. This site is intended for residents of the United Kingdom only. © Cumberland Building Society 2012. All Rights Reserved.

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