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A holiday let solution to raise capital and replenish savings

We offer a wide range of holiday let mortgages and remortgages to cater for both straightforward and more complex scenarios. We can also help with both regulated and unregulated cases. With years of experience, a flexible approach and decisions made by people not computers, we pride ourselves on finding solutions to out-of-the-ordinary cases that other lenders may turn away. Here’s an example of a case we recently helped with.

The clients’ scenario

In this unusual scenario, we helped a couple raise capital to replenish the savings they had used when refurbishing two holiday let properties they owned in Devon. They required two separate mortgages, with the first being a simple holiday let remortgage, the second was a complex loan to refinance a luxury holiday home set in large grounds.

Our solution

To assess affordability, we considered rental income, the clients’ self-employed income and sought advice from an agent about likely occupancy rates. By cross charging the properties we were able to offer a solution that met the clients’ needs as follows:

• Unregulated, interest-only loans
• Sale of property as the repayment strategy
• 25-year term

Hear from the intermediary

Commenting on his experience of working with us, Julian Baker of Morris Shapland said, “It was great working with MHBS again. They offered my clients competitively priced products and handled the case proficiently. It makes life easier to have direct access to my Specialist Business Development Manager Rohan and the underwriter who was Chris on this case.”

Our Specialist Business Development Manager, Rohan Hardeman, added “As always it was a pleasure working with Julian to create a solution to meet the clients’ complex £2m+ mortgage requirements. It’s really helpful to talk the case details through with him initially and then Julian provides all the supporting information needed up front so the case can progress smoothly. Together we were able to structure the two mortgages to deliver the best possible outcome for the clients’”.

Personalised solutions from an experienced specialist lender

To find out more about our personalised holiday let solutions, please call your Specialist Business Development Manager on 01858 412345. They are happy to chat through individual cases and discuss how we can help.

This is a recent case example, pricing is tailored to your clients’ individual circumstances. Article details are correct as of 18 April 2023.

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