Please Note: The information included within these pages is for for use by FCA authorised intermediaries only. If you are a customer please visit our customer web pages.
A Holiday Let property provides accommodation for guests on a short stay up to a maximum of 30 days. A Buy To Let is a residential property that can be let to tenants as their main residence.
Different tax rules apply for Holiday Let vs Buy To Let properties. Please see the HMRC website for further information.
The Scottish Government has introduced a licensing regime for short-term lets in Scotland. This will mean that local authorities will have established schemes for short-term letting licensing. You can find out more about the change in legislation on the following websites:
You could commit a criminal offence if you do not comply, so it is important to seek legal advice to check whether the legislation affects you or your property.
Legislation for England and Wales is being implemented on a phased basis, please refer to your local council if you require guidance.
Please refer to our Holiday Let Intermediary Packaging Guide for our step-by-step guide on how to register with us or submit an application.
Each Procuration Fee is calculated as a percentage of the mortgage advance and is 0.40% for all New Borrowing and 0.20% for Existing Customer Product Transfers or Rate Switches. These are payable on completion and payments are processed weekly on a Wednesday.
Subject to your property meeting requirements to let on a short-term basis, we can consider properties let on Airbnb or similar sites.
There are various laws and regulations in the UK that may determine whether you are able to offer your property for short term let. We suggest that you look into government guidance on this topic, and you can find out more about what qualifies as a holiday let here.
However, the best thing to do is contact us, to do this you will have to fill in a quick eligibility form to be directed to the right place.
Yes - we will instruct a valuation of the property.
We offer repayment and interest only mortgage products for Holiday Let properties over a maximum term of 30 years.
Yes - we allow overpayments of up to 10% each financial year (1 April - 31 March) on all our Holiday Let mortgage products without an early repayment charge. Please see our Holiday Let mortgage products page for details.
For new loan amounts up to and including £750,000, we offer a free basic valuation on all Holiday Lets. For loan amounts above £750,000, please contact your Relationship Manager for a fee quote.
In some circumstances, we will consider lending for holiday parks. The properties must be brick, stone or concrete constructions.
Please contact a member of the Intermediary team to find out if a property would meet our criteria.
In some circumstances a customer can use their own solicitor. Please refer to our Holiday Let Intermediary Packaging Guide for further information.
Yes - we lend throughout mainland UK including the isles of Anglesey, Arran, Mull, Skye, Lewis, Harris and Wight.
Yes - we can provide lending for modern timber framed houses where the walls are built using brick, stone or concrete.
Please contact a member of the Intermediary team in the first instance to find out if a property is eligible.
Yes, our Specialist pricing will apply.
If a property has more than six floors, this would be outside of our lending policy. However, we would be happy to discuss this with you. Please contact our team.
We do not lend in Northern Ireland. We lend throughout mainland UK and the isles of Anglesey, Arran, Mull, Skye, Lewis, Harris and Wight.
No we don’t currently lend on timber properties that don’t have brick, stone or concrete walls.
We have no appetite to lend on HMOs.
Yes, in some circumstances depending on the restriction. Occupancy restricted properties qualify for our Specialist products and your relationship manager will discuss the valuation process.
We do not lend to applicants who reside outside the UK. If you are existing customer and reside outside the UK and wish to discuss your mortgage, please give us a call on 01228 403 312.
The Cumberland has reduced the remortgage fee on all core holiday let products from £999 to £299.
Grant Seaton, Head of Intermediary Lending at The Cumberland shares his thoughts on the current UK Holiday Let market.
Grant Seaton, Head of Intermediary Lending at The Cumberland reflects on the Holiday Let market.