Holiday Let Portfolio Remortgage for a Cornish Landlord
£1,150,000 · 20 years · 5.75% fixed 5 yrs. A Cornwall-based landlord had built a portfolio of six holiday let cottages over fifteen years.
The Client
Cornwall-based landlord
The Challenge
A Cornwall-based landlord had built a portfolio of six holiday let cottages over fifteen years. The mortgages were a patchwork of residential, BTL, and one commercial loan from when holiday let-specific products were less widely available. A whole-portfolio holiday let remortgage would simplify the structure and reduce cost.
Our Solution
Doulton consolidated all six holiday let properties onto specialist holiday let mortgages with two lenders experienced in the Cornish short-term letting market. SA302 holiday let income from all six properties was submitted. The Airbnb and agency booking history for each cottage evidenced the income consistency.
The Outcome
All six properties remortgaged onto appropriate holiday let products. Blended rate reduced by 0.65% versus the previous mixed product structure. Annual saving: £7,475. SA302 income properly reflected in all mortgages for the first time. Key highlights: All 6 cottages consolidated onto specialist holiday let products; SA302 income properly assessed for first time; Annual saving of £7,475 - blended rate reduced by 0.65%.