arrangement fee
This can be paid up-front or added to the mortgage. Bear in mind that if you add the fee to your mortgage, you'll pay interest on it at the same rate as your mortgage and as a result will pay more interest over the term of your mortgage.
£999
booking fee
This fee must be paid when you apply for your mortgage.
no fee
initial rate
2.20% discount from our Standard Variable Rate for 3 years
2.74%
followed by our SVR
Our Standard Variable Rate (or SVR) reflects our cost of lending using a number of factors, including the Bank of England Base Rate. As the SVR is a variable rate it can change at any time.
4.94%
the overall cost for comparison is 4.4% APRC

Discounted for 3 years . Early Repayment Charges apply. . This product may be withdrawn at any time.

Product key features

Who's the product for?

If you’re looking for a mortgage on a Holiday Home, then we can help.

You must be owner occupier of your main residence and this cannot be the same property as the Holiday Home.

The property should be intended for your own use and we allow you the ability to short term let, including on an Air b’n’b basis at times when you do not occupy the property.

The sole purpose of the property cannot be to permanently let the property. We will not accept applications on a ‘Holiday Let’ basis.

The Holiday Home must not be within ‘close’ proximity of your main residence.

We assess affordability on a residential basis, therefore the loan amount available will be dependent upon your employment, income and expenditure details. We can consider regular rental/short term letting income if you have received this for at least two years and it is evidenced on your Self-Assessment Tax Returns.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Product related fees

There's an arrangement fee of £999. You can pay this up front by deducting the fee from the mortgage amount or adding it to the amount you borrow. If you add the fee to your mortgage you'll pay interest on the fee at the same rate as your mortgage.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Mortgage amounts and repayment terms

There's a minimum mortgage amount of £50,000 and a maximum amount of £750,000.

The minimum property value is £75,000 which increases to £250,000 for properties located within the M25 corridor.

The maximum loan to value is 75%.

Mortgage repayment terms are allowed between 5 years and 35 years.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Interest rate floor

The interest rate is floored and can't fall below 2.74%.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Mortgage incentives

Valuation fee contribution: We'll cover the cost of one standard mortgage valuation on a property valued up to £400,000. You can choose to have a RICS Homebuyers Report, however you'll have to cover the difference in cost.

Fees assisted legals: You have the choice of using our solicitors, where we'll cover the cost of any standard legal fees, or receiving £250 cashback towards your own solicitor's costs. You'll be advised of any non-standard costs that will apply. If you choose to use our solicitors, they'll only act for us and won't provide you with independent advice regarding the mortgage transaction.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Early Repayment Charges

Early Repayment Charges apply during the product term. Up to 10% of the original mortgage amount can be overpaid each year without charge, however, if the mortgage is redeemed or switched to another product during the product term, then the Early Repayment Charge will apply.

The Early Repayment Charge will be:

  • 3% of the amount repaid during the first year;
  • 2% of the amount repaid during the second year; and
  • 1% of the amount repaid during the third year.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Mortgage tariff of charges

The mortgage tariff of charges details the various fees and charges that may apply during the term of your mortgage.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Representative example

A mortgage of £120,575 payable over 20 years initially on a discounted variable rate of 2.74% (equal to a 2.20% discount from our SVR) for 3 years and then our SVR, currently 4.94% for the remaining term would require an initial payment of £667.65 followed by 33 monthly payments of £658.53 and 206 monthly payments of £779.47.

The total amount payable would be £183,469.96 made up of the mortgage amount plus interest (£62,394.96) with a valuation fee contribution of £350, an arrangement fee of £999, legal fees of £150, a telegraphic transfer fee of £25 and mortgage exit fees of £125.

The overall cost for comparison is 4.4% APRC representative.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

We're here to help you...

  • Answer your queries
  • Check affordability
  • Assess your options
  • Help you apply
Gail, from our mortgage team is here to help 0121 557 2551*
Our lines are open:
Monday - Tuesday09:00 - 17:00
Wednesday09:30 - 17:00
Thursday - Friday09:00 - 17:00
Saturday09:00 - 12:00
SundayClosed
*Calls from landlines are charged at the standard rate. Calls from mobiles may vary.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.