Looking for Ipswich Building Society? We’ve changed our name! Find out more. | We’ve won Best Building Society 2022 in the British Bank Awards! – Find out more.

Holiday let mortgages.

Holiday let

For properties rented out for short stays and guest rentals you’ll need a holiday let mortgage.

Here to help

Find a holiday let mortgage.

Holiday let

Our holiday let mortgage criteria.

Not all holiday let mortgages are created equal, so you’ll need to do your research in order to find a lender to suit your needs. To help you search for a holiday home mortgage here are some of the things you should know about what we offer at Suffolk Building Society.

  1. Landlords must have no more than three properties within the total portfolio, which includes any buy to let properties, and not operate their properties as a company or business.
  2. Owners may occupy the mortgaged holiday let property for personal use for up to 60 days per year.
  3. Properties must be of single dwellling and usually of standard construction, although we will consider non-standard construction on a case by case basis. We will consider leasehold properties and flats, but don’t currently lend on houses in multiple occupancy (HMOs) or properties in holiday parks.
  4. We will consider first time landlords who currently or have previously owned their own home and are aged 30+. For existing holiday let or buy to let landlords the minimum age is 21.
  5.  At least one applicant must have a minimum annual income of £25,000, from employment, self employment a pension or investments
  6. Properties must hold a valid Energy Performance Certificate (EPC) and meet a minimum Energy rating of E, to be evidenced at application. Should the property be exempt from the Energy Efficiency (Private Rented Property) (England and Wales) Regulations 2015, evidence of exemption is required.
  7. The potential rental income will be calculated by a Holiday Letting Agent and a letter is required to confirm the known weekly rental income, or anticipated revenue during low, medium, and high season. An average will be taken and multiplied by 30 weeks to give an indicative annual figure. If there is a minimum two-year history of occupancy the average will be multiplied by 35 weeks.

Ready to begin? Take a look at our mortgage finder. We’re here to help so get in touch with us at any stage.


All you need to know about holiday let mortgages.

A holiday let mortgage, sometimes called a holiday home mortgage, is needed to finance a property let out on a short term basis, usually for no more than two or three weeks at a time, where the tenants will be staying as part of a holiday or short break away from home.

A holiday let mortgage is for properties let out for short-term guest rentals, where tenants are spending time away from their home. A buy to let mortgage is for properties where tenants will be renting on a long-term basis as their main residence. For buy to let properties you can find out more on our buy to let mortgage page.

Usually lenders will have certain limits on how long you can stay in a property you have financed through a holiday let mortgage. Our mortgages allow homeowners to occupy their property for personal use for up to 60 days per year.

For holiday let mortgages we will need to calculate the rental coverage. This is done via a letter from a Holiday Letting Agent which needs to confirm the low, medium and high season anticipated or known weekly rental income. An average of these will be taken and multiplied by 30 weeks (35 weeks if the property has been let by the applicant for 2 years or more) to give an indicative annual figure. The annual rental must provide a minimum of 145% rental coverage based on the mortgage product initial interest rate + 2% or a minimum of 5.5%, whichever is greater. Should you choose a 5-year fixed rate mortgage, the stress rate scenario does not apply, so 145% rental coverage is calculated solely on the product pay rate.

Whilst we make our assessment based on the rental cover please note we require at least one applicant to have a minimum annual income of £25,000 from employment, self employment, a pension or investments.

Our holiday home mortgages are currently only for applicants who currently or have previously owned their own home. We do consider first time landlords though, with a minimum age of 30.

To see how much your mortgage for a holiday home might cost you each month visit our mortgage repayment calculator, where you will need to input how much you want to borrow, the interest rate and the length of the mortgage.

No. For long term tenants who will be using your property as their main residence you will need a buy to let mortgage. Find out more on our buy to let mortgage page.


We have conversations, not algorithms.

Our decisions are made by experts, not computers. We need to calculate the financials, but we understand there’s more behind a mortgage than the numbers on a page. We can’t promise to lend to everyone and anyone, but we’ll consider most applications on an individual basis.

Ready to go? We’d love to hear from you. Get in touch with our friendly and knowledgeable team.

Prefer to talk?
Call 0330 123 0723

Contact us

    Your browser is out-of-date.

    Welcome to our new website. This site is not fully supported in Internet Explorer.
    Please download one of the browsers below to continue using this website.

    • Google Chrome
    • Microsoft Edge