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.
Does your client qualify for a standard product? View our lending criteria
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 | |
|---|---|---|---|---|---|
| 5.24% | £999 | ||||
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. | |||||
| 5.24% | £49 | ||||
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. | |||||
| 5.24% | £999 | ||||
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. | |||||
| 5.24% | £49 | ||||
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. | |||||
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 |
|---|---|---|---|---|---|
| 2.50% | 5.24% | £999 | |||
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. | |||||
| 2.15% | 5.24% | No fee | |||
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. | |||||
| 1.70% | 5.24% | £999 | |||
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. | |||||
| 1.35% | 5.24% | No fee | |||
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
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 |
|---|---|---|---|---|
| 5.24% | 1% (of mortgage amount) | |||
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. | ||||
| 5.24% | 1% (of mortgage amount) | |||
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. | ||||
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 |
|---|---|---|---|---|---|
| 1.65% | 5.24% | 1% (of mortgage amount) | |||
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. | |||||
| 0.85% | 5.24% | 1% (of mortgage amount) | |||
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.
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:
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To qualify for standard products, a case must meet ALL criteria, otherwise non-standard products apply.
In the following circumstances, non-standard products apply: