What we do

Holiday Let Mortgages is a trading style of Enhanced Wealth Limited who are a whole of market mortgage broker.

We specialise in providing mortgage and finance advice to those people who wish to purchase or refinance a holiday home or holiday let property.

This is a very niche area as many lenders will not accept properties that are to be used as holiday lets. By specialising in this market, we have built up relationships with those lenders that will take holiday lets and also understand the criteria they work from.

It may be possible for a holiday let to be financed using a buy to let mortgage. Unfortunately, this would normally mean you breaching their terms and conditions as most lenders do not allow this. We will only offer mortgages where the lender is happy with the property being used as a holiday let.

Our brokers are highly experienced in this field and we know the lenders to approach for a successful outcome for each client. Whilst we never work from a restricted list or panel of lenders, please be aware that there are only a small number of companies that will provide finance for these types of property.

Properties located in Scotland, those of an unusual construction or properties with a restricted usage can all be financed.

For each mortgage we will confirm the costs, fees and type of mortgage package on offer. There are less options for holiday let mortgages when compared to mainstream loans but we will do our best to match your request for tracker rates, fixed rates, interest only etc.

If you are happy to accept mortgage documentation by email then we will normally send these to you on the same day. This will include the lenders application form and any paperwork or fee requirements.

Typically, we will require:

• Completed lenders application form

• Our signed Terms of Business and broker fee

• Cheque for lenders fee/s

• ID and address documents to comply with Money Laundering rules

• Possibly a letter from a local Letting Agent confirming the rental income

• Payslips, P60, Accounts

We will begin processing your mortgage application once these have been received. Your adviser will check the application form to ensure all is correct before passing the file to our dedicated admin team. They will then either submit the application electronically or post the pack out to the lender.

Our administrators will continue to monitor and chase the progress of your holiday let mortgage until a mortgage offer is produced. This will be checked for accuracy and any errors will be amended.

Commercial finance

Where it is not possible to arrange your mortgage with a mortgage lender or building society we can normally gain agreement from a commercial lender.  Typically this option is used where the property or land is unusual or where an element of property development is part of the arrangement.

This can include multiple properties on one site or title and properties with mixed usage.