Broker Holiday Let Service

We offer a tailored service to brokers for holiday let mortgages. Contact us to discuss our fixed rate and variable options.
For all enquiries please contact us on
(01228) 403 141

What makes us different

As an established and recognised lender in the hospitality sector, we specialise in mortgages for holiday let properties. Over the years that we have operated in this market we've helped thousands of people realise long-held dreams and ambitions.

We are proud to offer a personal service, with experienced lending managers assessing applications and treating each one individually. No automatic computer-based decisions!

We will consider cases that other lenders won't, such as where the property being mortgaged has a holiday let restriction or where there is more than one property on the Land Registry title.

Download our Holiday Let Intermediary Toolkit , for full details of our holiday let product ranges, lending criteria and proc fees.

Our Holiday Let Mortgage Rates

Does your client qualify for a standard product? View our lending criteria

5 YEAR FIXED RATE

Your interest rate is fixed at the rate shown until 1st November 2024, followed by our Commercial Variable Base Rate (CVBR), currently 5.24%, until the end of the mortgage.

Loan To Value Initial interest rate for 5 years Overall cost for comparison Follow on rate Fee
Up to 60% Up to 60% 3.24% 3.24% 4.3% APRC 5.24% £999 Find out
  • Can repay lump sums without any early repayment charge (up to 10% per annum each financial year (1 April - 31 March) of the outstanding balance as at 1 April each year) - full details will be found in your Mortgage Illustration
  • Will have to pay an early-repayment charge (5% before 2nd November 2020, 4% before 2nd November 2021, 3% before 2nd November 2022, 2% before 2nd November 2023 and 1% before 2nd November 2024 of the amount repaid) if you repay all or part of your mortgage before 2nd November 2024
Representative Example:

A mortgage of £121,334 payable over 16 years initially on this fixed rate product until 1st November 2024 at 3.24% and then on our Commercial Variable Base Rate (CVBR), currently 5.24% for the remaining term of the mortgage, would require 61 monthly payments of £810.67 and 131 monthly payments of £897.17.

The total amount payable would be £168,154 made up of the loan amount plus interest (£45,646), arrangement fee (£999) and other lending fees (£25).

The overall cost for comparison is 4.3% APRC representative.

What is a Representative Example?

Representative Examples include the costs associated with a typical mortgage from The Cumberland. They do not take into account the information your have input into this mortgage calculator and are therefore not specific to your circumstances. For a Mortgage Illustration, please contact us directly.

Up to 60% Up to 60% 3.39% 3.39% 4.3% APRC 4.3% APRC 5.24% £49 Find out
  • Can repay lump sums without any early repayment charge (up to 10% per annum each financial year (1 April - 31 March) of the outstanding balance as at 1 April each year) - full details will be found in your Mortgage Illustration
  • Will have to pay an early-repayment charge (5% before 2nd November 2020, 4% before 2nd November 2021, 3% before 2nd November 2022, 2% before 2nd November 2023 and 1% before 2nd November 2024 of the amount repaid) if you repay all or part of your mortgage before 2nd November 2024
Representative Example:

A mortgage of £121,334 payable over 16 years initially on this fixed rate product until 1st November 2024 at 3.39% and then on our Commercial Variable Base Rate (CVBR), currently 5.24% for the remaining term of the mortgage, would require 61 monthly payments of £819.62 and 131 monthly payments of £900.09.

The total amount payable would be £168,133 made up of the loan amount plus interest (£46,575), arrangement fee (£49) and other lending fees (£25).

The overall cost for comparison is 4.3% APRC representative.

What is a Representative Example?

Representative Examples include the costs associated with a typical mortgage from The Cumberland. They do not take into account the information your have input into this mortgage calculator and are therefore not specific to your circumstances. For a Mortgage Illustration, please contact us directly.

Up to 75% Up to 75% 4.04% 4.04% 4.8% APRC 4.8% APRC 5.24% £999 Find out
  • Can repay lump sums without any early repayment charge (up to 10% per annum each financial year (1 April - 31 March) of the outstanding balance as at 1 April each year) - full details will be found in your Mortgage Illustration
  • Will have to pay an early-repayment charge (5% before 2nd November 2020, 4% before 2nd November 2021, 3% before 2nd November 2022, 2% before 2nd November 2023 and 1% before 2nd November 2024 of the amount repaid) if you repay all or part of your mortgage before 2nd November 2024
Representative Example:

A mortgage of £121,334 payable over 16 years initially on this fixed rate product until 1st November 2024 at 4.04% and then on our Commercial Variable Base Rate (CVBR), currently 5.24% for the remaining term of the mortgage, would require 61 monthly payments of £859.07 and 131 monthly payments of £912.58.

The total amount payable would be £173,125 made up of the loan amount plus interest (£50,617), arrangement fee (£999) and other lending fees (£25).

The overall cost for comparison is 4.8% APRC representative.

What is a Representative Example?

Representative Examples include the costs associated with a typical mortgage from The Cumberland. They do not take into account the information your have input into this mortgage calculator and are therefore not specific to your circumstances. For a Mortgage Illustration, please contact us directly.

Up to 75% Up to 75% 4.19% 4.19% 4.8% APRC 4.8% APRC 5.24% £49 Find out
  • Can repay lump sums without any early repayment charge (up to 10% per annum each financial year (1 April - 31 March) of the outstanding balance as at 1 April each year) - full details will be found in your Mortgage Illustration
  • Will have to pay an early-repayment charge (5% before 2nd November 2020, 4% before 2nd November 2021, 3% before 2nd November 2022, 2% before 2nd November 2023 and 1% before 2nd November 2024 of the amount repaid) if you repay all or part of your mortgage before 2nd November 2024
Representative Example:

A mortgage of £121,334 payable over 16 years initially on this fixed rate product until 1st November 2024 at 4.19% and then on our Commercial Variable Base Rate (CVBR), currently 5.24% for the remaining term of the mortgage, would require 61 monthly payments of £868.33 and 131 monthly payments of £915.42.

The total amount payable would be £173,112 made up of the loan amount plus interest (£51,554), arrangement fee (£49) and other lending fees (£25).

The overall cost for comparison is 4.8% APRC representative.

What is a Representative Example?

Representative Examples include the costs associated with a typical mortgage from The Cumberland. They do not take into account the information your have input into this mortgage calculator and are therefore not specific to your circumstances. For a Mortgage Illustration, please contact us directly.

2 YEAR DISCOUNT VARIABLE RATE

Your interest rate tracks our Commercial Variable Base Rate (CVBR), currently 5.24%, less the discount shown for the first 2 years, followed by our CVBR until the end of the mortgage.

Loan To Value Initial interest rate for 2 years Overall cost for comparison Discount from CVBR Follow on rate Fee
Up to 60% Up to 60% 2.74% 2.74% 4.8% APRC 4.8% APRC 2.50% 5.24% £999 Find out
  • Can repay lump sums without any early repayment charge (up to 10% per annum each financial year (1 April - 31 March) of the outstanding balance as at 1 April each year) - full details will be found in your Mortgage Illustration
  • Will have to pay an early-repayment charge (1.00% before the end of year 1 and 0.50% before the end of year 2 of the amount repaid) if you repay all or part of your mortgage before the end of the deal
Representative Example:

A mortgage of £121,334 payable over 16 years initially on this variable rate product for 2 years at 2.74% and then on our Commercial Variable Base Rate (CVBR), currently 5.24% for the remaining term of the mortgage, would require 24 monthly payments of £781.27 and 168 monthly payments of £916.26.

The total amount payable would be £173,856 made up of the loan amount plus interest (£51,348), arrangement fee (£999) and other lending fees (£25).

The overall cost for comparison is 4.8% APRC representative.

What is a Representative Example?

Representative Examples include the costs associated with a typical mortgage from The Cumberland. They do not take into account the information your have input into this mortgage calculator and are therefore not specific to your circumstances. For a Mortgage Illustration, please contact us directly.

Up to 60% Up to 60% 3.09% 3.09% 4.8% APRC 4.8% APRC 2.15% 5.24% No fee Find out
  • Can repay lump sums without any early repayment charge (up to 10% per annum each financial year (1 April - 31 March) of the outstanding balance as at 1 April each year) - full details will be found in your Mortgage Illustration
  • Will have to pay an early-repayment charge (1.00% before the end of year 1 and 0.50% before the end of year 2 of the amount repaid) if you repay all or part of your mortgage before the end of the deal
Representative Example:

A mortgage of £121,334 payable over 16 years initially on this variable rate product for 2 years at 3.09% and then on our Commercial Variable Base Rate (CVBR), currently 5.24% for the remaining term of the mortgage, would require 24 monthly payments of £801.78 and 168 monthly payments of £919.01.

The total amount payable would be £173,811 made up of the loan amount plus interest (£52,302) and other lending fees (£25).

The overall cost for comparison is 4.8% APRC representative.

What is a Representative Example?

Representative Examples include the costs associated with a typical mortgage from The Cumberland. They do not take into account the information your have input into this mortgage calculator and are therefore not specific to your circumstances. For a Mortgage Illustration, please contact us directly.

Up to 75% Up to 75% 3.54% 3.54% 5.0% APRC 5.0% APRC 1.70% 5.24% £999 Find out
  • Can repay lump sums without any early repayment charge (up to 10% per annum each financial year (1 April - 31 March) of the outstanding balance as at 1 April each year) - full details will be found in your Mortgage Illustration
  • Will have to pay an early-repayment charge (1.00% before the end of year 1 and 0.50% before the end of year 2 of the amount repaid) if you repay all or part of your mortgage before the end of the deal
Representative Example:

A mortgage of £121,334 payable over 16 years initially on this variable rate product for 2 years at 3.54% and then on our Commercial Variable Base Rate (CVBR), currently 5.24% for the remaining term of the mortgage, would require 24 monthly payments of £828.63 and 168 monthly payments of £922.47.

The total amount payable would be £176,036 made up of the loan amount plus interest (£53,528), arrangement fee (£999) and other lending fees (£25).

The overall cost for comparison is 5.0% APRC representative.

What is a Representative Example?

Representative Examples include the costs associated with a typical mortgage from The Cumberland. They do not take into account the information your have input into this mortgage calculator and are therefore not specific to your circumstances. For a Mortgage Illustration, please contact us directly.

Up to 75% Up to 75% 3.89% 3.89% 5.0% APRC 5.0% APRC 1.35% 5.24% No fee Find out
  • Can repay lump sums without any early repayment charge (up to 10% per annum each financial year (1 April - 31 March) of the outstanding balance as at 1 April each year) - full details will be found in your Mortgage Illustration
  • Will have to pay an early-repayment charge (1.00% before the end of year 1 and 0.50% before the end of year 2 of the amount repaid) if you repay all or part of your mortgage before the end of the deal
Representative Example:

A mortgage of £121,334 payable over 16 years initially on this variable rate product for 2 years at 3.89% and then on our Commercial Variable Base Rate (CVBR), currently 5.24% for the remaining term of the mortgage, would require 24 monthly payments of £849.87 and 168 monthly payments of £925.11.

The total amount payable would be £175,990 made up of the loan amount plus interest (£54,481) and other lending fees (£25).

The overall cost for comparison is 5.0% APRC representative.

What is a Representative Example?

Representative Examples include the costs associated with a typical mortgage from The Cumberland. They do not take into account the information your have input into this mortgage calculator and are therefore not specific to your circumstances. For a Mortgage Illustration, please contact us directly.

For loans above £750k, please call us on 01228 403 141 to discuss the products that are available to you.

Does a non-standard product apply to your client? View our lending criteria

5 YEAR FIXED RATE

Your interest rate is fixed at the rate shown until 1st November 2024, followed by our Commercial Variable Base Rate (CVBR), currently 5.24%, until the end of the mortgage.

Loan To Value Initial interest rate for 5 years Overall cost for comparison Follow on rate Fee
Up to 60% Up to 60% 4.09% 4.09% 4.8% APRC 4.8% APRC 5.24% 1% (of mortgage amount) Find out
  • Can repay lump sums without any early repayment charge (up to 10% per annum each financial year (1 April - 31 March) of the outstanding balance as at 1 April each year) - full details will be found in your Mortgage Illustration
  • Will have to pay an early-repayment charge (5% before 2nd November 2020, 4% before 2nd November 2021, 3% before 2nd November 2022, 2% before 2nd November 2023 and 1% before 2nd November 2024 of the amount repaid) if you repay all or part of your mortgage before 2nd November 2024
Representative Example:

A mortgage of £121,334 payable over 16 years initially on this fixed rate product until 1st November 2024 at 4.09% and then on our Commercial Variable Base Rate (CVBR), currently 5.24% for the remaining term of the mortgage, would require 61 monthly payments of £862.15 and 131 monthly payments of £913.53.

The total amount payable would be £173,652 made up of the loan amount plus interest (£50,929), arrangement fee (1% of mortgage amount) and other lending fees (£25).

The overall cost for comparison is 4.8% APRC representative.

What is a Representative Example?

Representative Examples include the costs associated with a typical mortgage from The Cumberland. They do not take into account the information your have input into this mortgage calculator and are therefore not specific to your circumstances. For a Mortgage Illustration, please contact us directly.

Up to 75% Up to 75% 4.89% 4.89% 5.3% APRC 5.3% APRC 5.24% 1% (of mortgage amount) Find out
  • Can repay lump sums without any early repayment charge (up to 10% per annum each financial year (1 April - 31 March) of the outstanding balance as at 1 April each year) - full details will be found in your Mortgage Illustration
  • Will have to pay an early-repayment charge (5% before 2nd November 2020, 4% before 2nd November 2021, 3% before 2nd November 2022, 2% before 2nd November 2023 and 1% before 2nd November 2024 of the amount repaid) if you repay all or part of your mortgage before 2nd November 2024
Representative Example:

A mortgage of £121,334 payable over 16 years initially on this fixed rate product until 1st November 2024 at 4.89% and then on our Commercial Variable Base Rate (CVBR), currently 5.24% for the remaining term of the mortgage, would require 61 monthly payments of £912.30 and 131 monthly payments of £928.51.

The total amount payable would be £178,673 made up of the loan amount plus interest (£55,951), arrangement fee (1% of mortgage amount) and other lending fees (£25).

The overall cost for comparison is 5.3% APRC representative.

What is a Representative Example?

Representative Examples include the costs associated with a typical mortgage from The Cumberland. They do not take into account the information your have input into this mortgage calculator and are therefore not specific to your circumstances. For a Mortgage Illustration, please contact us directly.

2 YEAR DISCOUNT VARIABLE RATE

Your interest rate tracks our Commercial Variable Base Rate (CVBR), currently 5.24%, less the discount shown for the first 2 years, followed by our CVBR until the end of the mortgage.

Loan To Value Initial interest rate for 2 years Overall cost for comparison Discount from CVBR Follow on rate Fee
Up to 60% Up to 60% 3.59% 3.59% 5.1% APRC 5.1% APRC 1.65% 5.24% 1% (of mortgage amount) Find out
  • Can repay lump sums without any early repayment charge (up to 10% per annum each financial year (1 April - 31 March) of the outstanding balance as at 1 April each year) - full details will be found in your Mortgage Illustration
  • Will have to pay an early-repayment charge (1.00% before the end of year 1 and 0.50% before the end of year 2 of the amount repaid) if you repay all or part of your mortgage before the end of the deal
Representative Example:

A mortgage of £121,334 payable over 16 years initially on this variable rate product for 2 years at 3.59% and then on our Commercial Variable Base Rate (CVBR), currently 5.24% for the remaining term of the mortgage, would require 24 monthly payments of £831.64 and 168 monthly payments of £922.85.

The total amount payable would be £176,387 made up of the loan amount plus interest (£53,664), arrangement fee (1% of mortgage amount) and other lending fees (£25).

The overall cost for comparison is 5.1% APRC representative.

What is a Representative Example?

Representative Examples include the costs associated with a typical mortgage from The Cumberland. They do not take into account the information your have input into this mortgage calculator and are therefore not specific to your circumstances. For a Mortgage Illustration, please contact us directly.

Up to 75% Up to 75% 4.39% 4.39% 5.3% APRC 5.3% APRC 0.85% 5.24% 1% (of mortgage amount) Find out
  • Can repay lump sums without any early repayment charge (up to 10% per annum each financial year (1 April - 31 March) of the outstanding balance as at 1 April each year) - full details will be found in your Mortgage Illustration
  • Will have to pay an early-repayment charge (1.00% before the end of year 1 and 0.50% before the end of year 2 of the amount repaid) if you repay all or part of your mortgage before the end of the deal
Representative Example:

A mortgage of £121,334 payable over 16 years initially on this variable rate product for 2 years at 4.39% and then on our Commercial Variable Base Rate (CVBR), currently 5.24% for the remaining term of the mortgage, would require 24 monthly payments of £880.77 and 168 monthly payments of £928.79.

The total amount payable would be £178,564 made up of the loan amount plus interest (£55,841), arrangement fee (1% of mortgage amount) and other lending fees (£25).

The overall cost for comparison is 5.3% APRC representative.

What is a Representative Example?

Representative Examples include the costs associated with a typical mortgage from The Cumberland. They do not take into account the information your have input into this mortgage calculator and are therefore not specific to your circumstances. For a Mortgage Illustration, please contact us directly.

For loans above £750k, please call us on 01228 403 141 to discuss the products that are available to you.

  1. Our holiday let lending criteria

    In all cases, the following criteria apply:

    Lending area

    We lend throughout mainland UK and the isles of Anglesey, Arran, Mull, Skye, Lewis, Harris and Wight

    Maximum LTV

    We can lend up to 75% of the property value

    Loan size

    The minimum loan size is £75,000

    The minimum property value must be £150,000

    We will consider up to 75% LTV for loans up to £1.5m and up to 60% LTV on loans between £1,500,001 and £2m.

    Mortgage products displayed above apply to loans of up to £750k. For loans of over £750k, please call our team on 01228 403 135 to discuss the products available to you.

    Term

    Maximum mortgage term is 25 years

    Property

    Leasehold properties should have a minimum of 85 years left on the lease at the start of the mortgage and 50 years on maturity

    Our product rates for are available for both new and established holiday let properties

    Single or multiple unit properties acceptable

    Properties which are temporary or moveable are not eligible

    Rental coverage

    To meet our criteria for rental coverage, annual net rental income must:

    • For standard variable rate products be a minimum of 125% of the annual mortgage interest at an interest rate of 6.25%
    • For 5-year fixed rate products be a minimum of 125% of the annual mortgage interest at the product fixed rate
  2. Standard Products

    To qualify for standard products, a case must meet ALL criteria, otherwise non-standard products apply.

    • Annual personal income above £20,000
    • Applicant is an individual or partnership
    • Loan amount above £75,000 1
    • Applicant is a UK resident
    • No occupancy restrictions apply 2
    • Proposed holiday letting is based upon proven figures or projected figures
    • Portfolio landlords and non-portfolio landlords
    • Some or all of the funds requested are to be used to raise capital for the improvement / renovation / refurbishment of the property or to replenish funds used for those purposes
    • Some or all of the funds are used to purchase or renovate another property
    • Applicant owns a residential property
    • The HMLR title includes just a single letting unit
    1 Maximum exposure on standard products £2m. Maximum aggregate exposure £5m (eg £2m standard; £3m non-standard).
    2 Maximum LTV of 60% where property restrictions apply.
  3. Non-Standard Products

    In the following circumstances, non-standard products apply:

    • Annual income below £20,000 1
    • Applicant is a Company, an LLP or a Trust 2
    • Applicant is not a UK resident 3
    • Occupancy restrictions apply 4
    • Top slicing of background income required to meet shortfall at stressed rate (or pay rate if 5 year fixed) 5
    • Some or all of the funds requested are to raise capital for injection into another business venture (including but not exclusively property development)
    • Funds to be used to consolidate debt of £25k or more
    • Applicant does not own a residential property
    • The HMLR title includes several letting units
    • The property sits above a commercial property (eg a flat above a shop)>
    1 Background income can be used to top slice where the stress rate hurdle is not met and the borrower must demonstrate the ability to service the debt from background income or other sources.
    2 Beneficial owners of Ltd Companies to be EU Nationals resident in the UK or UK ex-pats. Companies must be incorporated in the UK.
    3 Borrowers to be EU Nationals resident in the UK or UK ex-pats.
    4 Maximum LTV of 60% where property restrictions apply.
    5 Viability calculation based on annual rental income of property after 20% deducted for letting agents fees; Loans must meet a stress hurdle of 125% interest cover at an interest rate of 6.25% where the product rate is variable (e.g. a loan of £100k must have nett income of £7,813 to meet a stress rate of 6.25%). 5 year fixed stressed at 125% at pay rate. HL income must be confirmed in writing by a reputable letting agent or from actual trading figures from current property owners.