What do we do?


Economic uncertainty and a rise in staycations have led to significant holiday let market growth in recent years. At Dudley Building Society, we understand how underserved this area of the lending market is, so we have developed a product specifically for Holiday Let mortgages. 

We will consider borrowers requiring Holiday-Let mortgages on both a residential and Buy-to-Let basis, subject to a maximum LTV of 70%. For purchases, we assess the rental coverage on a case by case basis and for remortgages we require evidence of the last 12 months of earnings.

Our key criteria
Holiday Let

The full property must be used as a holiday let, therefore properties where individual rooms or sections of the property are let, will not be accepted.

The Society can accept holiday lets on both a purchase and remortgage basis.

Existing BTL assessment rules apply, therefore applications may be assessed on either an ICR or full affordability basis depending on the scenario of the borrower. Borrowers are allowed to use the property for personal use when not rented, the standard BTL condition that denies this should be removed from the offer.

For valuation purposes, the valuer will confirm there is a sustainable market, on the assumption of a 6-12 month AST basis (this is to provide confidence on re-saleability). The valuer will also confirm that there are no onerous restrictions or covenants affecting the usage of the property, e.g. no holiday parks or restricted usage periods.

Ex-Pat Holiday Let applications will not be accepted.

Contact Us

Contact our Intermediary Team with any case queries you may have.

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