Second Home

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If you are thinking about buying a Second Home then there is a good chance that you will need a Mortgage.

Buying a second property is possible, however the type of Mortgage will depend on a few factors.

  • You buying to rent out. This is a Buy To let and you need to visit our Buy To Let Mortgages section.
  • You buying a holiday home to rent out. Then you need to visit our Holiday Let section ( majority of lenders will allow up to 90 days personal use )

However, if you are buying a property for use by your family then you could qualify for a Mortgage

Mortgage rules

If you want to buy a home for a member of your family or to enjoy yourself and have no plans to rent it out, then subject to status you should be able to take out a normal residential mortgage and do a straight forward purchase. Key points to consider

  1. The lender will need to make sure that you can afford both your current mortgage and the new one- so they will need confirmation of income and expenditure
  2. The lender will need a good reason for the purchase of the home. Lenders do not want to be lending out money to a buy to let which is disguised as a second home
  3. You will probably need a larger deposit

The interest rate charged could be higher

Can I get a second Mortgage for Second Home ?

Technically speaking yes, everyone is eligible for a mortgage, but it will depend on your affordability. Lenders will check the following:

How to get a Second Home

When you have decided to buy a second property, give us a call to discuss your options. We can help you find a suitable Lender and proceed to obtain you a Agreement in Principle (AIP)

An Agreement in Principle can assist in demonstrating to a vendor your plausibility as a purchaser who can secure the necessary funds. 

Why Us
our Mortgage Butler service
  • Help you to collate all of the documents you will need to apply for a mortgage

  • Complete and submit your application

  • Handle all the enquiries by the Mortgage Lender

  • Liaise with your Estate Agent

  • Help you to nominate a good & competitive solicitors

  • Work with all the parties to get you to Mortgage completion

  • Keep in touch with you on a yearly basis and help with your future needs

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