Please note: Leeds Building Society only accepts mortgage applications from intermediaries where they are providing an advised sales service, with the exception of Buy to Let & Holiday Let applications. It is the responsibility of the intermediary to ensure that all applicable law including, without limitation, the Financial Conduct Authority rules on advised mortgage sales are complied with including, without limitation, the provision of adequate explanations.

Holiday Let mortgages

A dedicated range of mortgages available for holiday letting.

AVAILABLE TO INTERMEDIARIES ONLY

Holiday let criteria - key points

  • Minimum income is restricted to at least £40,000 from primary applicant's income
  • Rental income must be at least 140% of interest payable on the stress rate of;
    5.50% for purchases and capital raising remortgages
    5.00% for non-capital raising 'like-for-like' remortgages
  • Maximum portfolio size of 10 mortgaged rental properties, irrespective of lender
  • Maximum of 4 rental properties can be mortgaged with The Society, whether Buy-to-Let, Holiday Let or a combination of both
  • Maximum age at the end of the term is 85 years

For full details of our holiday let criteria, view our criteria guide.

Your clients may find our knowledge base useful for helpful information on letting properties and links to other useful resources.

 

Fee Saver 2 Year Holiday Let Fixed Rate Mortgages

Initial rate fixed up to and inc. 29/02/2020Then the Society's BTL Variable Rate less 1.00% discount up to and inc. 28/02/2023, (currently)Then the Society's BTL Variable Rate thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
2.65% 4.99%5.99%5.0%60%£0 View
Fee Saver / Max loan amount £500,000
3.00% 4.99%5.99%5.1%70%£0 View
Fee Saver / Max loan amount £500,000

2 Year Holiday Let Fixed Rate Mortgages

Initial rate fixed up to and inc. 29/02/2020Then the Society's BTL Variable Rate less 1.00% discount up to and inc. 28/02/2023, (currently)Then the Society's BTL Variable Rate thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
2.39% 4.99%5.99%5.0%60%£999 View
Max loan amount £500,000
2.69% 4.99%5.99%5.1%70%£999 View
Max loan amount £500,000

2 Year Holiday Let Discount Rate Mortgages

Initial rate fixed up to and inc. 29/02/2020Then the Society's BTL Variable Rate less 1.00% discount up to and inc. 28/02/2023, (currently)Then the Society's BTL Variable Rate thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
2.59% 4.99%5.99%5.3%70%£999 View
Max loan amount £500,000
RATES CORRECT AS AT 14 NOV 2017

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £206,000.00 payable over 25 years initially on a fixed rate for 2 years at 2.59% and then a 1.00% discount on our current Buy to Let Variable Rate of 5.99% for 3 years and then on our current Buy to Let Variable Rate of 5.99% for the remaining 20 years would require 24 monthly payments of £1181.66, 36 monthly payments of £914.83 and 240 monthly payments of £1282.71.

The total amount payable would be £373,814.10 made up of the loan amount plus interest of £166,780.10 and application fee £0, product fee £999, valuation fee £0.

The overall cost for comparisons is 5.3% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender. A product fee is payable on application but is refundable should the mortgage not complete. A mortgage exit fee of £199 will apply.

Additional Features

  • 10% capital repayments are allowed each year without incurring an Early Repayment Charge.
  • Tapered Early Repayment Charges apply for the fixed rate period up to and including 31/01/2020.
  • Free Standard valuation up to £999.
  • Fees assisted legal services for standard remortgages.
  • Maximum loan £500,000.
  • Interest calculated daily.

We have developed a set of short, easy-to-use guides to our criteria.

View our criteria guides »

Any questions?

Please contact your nearest Development Manager. Find your nearest Development Manager »