Short Term Lets

We define Short Term Let as Holiday Lettings and Serviced Apartments. Short Term Lets are acceptable where the Valuer confirms:

• the security property is suitable for occupation under an assured shorthold tenancy including any restrictive lease covenants (AST will not be required);
• the ICR calculation fits on the market rent based on an AST;
• and there is demand for the property from both owner occupier and investor buyers.

• Available to both Individual and Limited Company / LLP borrowers
• For Buy-to-Let properties in England and Wales to be let as Holiday Let or Serviced Apartment
• First-time and experienced landlords
• Portfolio Landlords with no limit on number of properties/mortgages in the background
• Minimum age: primary applicant 21 & secondary applicant 18
• Maximum age: 85 at the end of term
• Up to 4 applicants/Ltd Company directors/LLP members
• Remortgages within 6 months of purchase considered

• Min Loan: £25,001
• Max. Loan: £1m up to 75% LTV
• Min. Loan Term: 5 years
• Max. Loan Term: 30 years
• Portfolio Exposure within CHL group:
  Over £1m to £2.5m (Max. LTV 75%)
  Up to £1m (Max. 80% LTV)

• Individuals
  • Basic Rate: 125%
  • Higher Rate: 140%
• Limited Company/LLP: 125%
• Assessment Rate:  Pay rate

• Blocks of up to 6 units: Max. 6 units per block
• Blocks of 7 to 20 units: Max. 10 units per block
• Blocks of more than 20 units: Highest of 10 units or 20% per block