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Established in Newport in 1869 to help local people build homes, we now help people across Wales and England buy properties and save for their future.
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Holiday Let Purchase and Remortgages
Sorry, we do not currently have any Holiday Let mortgages on offer. Our product range is regularly updated, so please keep checking this page for any new products.

Our underwriting process is guided by our expertise rather than computer formulas and credit scores - ideal for specialist solutions like Holiday Let mortgages.

  • We lend on properties across England and Wales
  • We will consider first time landlords
  • We offer mortgages up to 75% LTV
  • We lend up to age 85
  • Mortgage up to 3 properties
  • Holiday Let Portfolio loans available
Our Holiday Let Mortgage Criteria


The criteria below is for standard Holiday Let Mortgages for up to 3 properties. If you are looking to mortgage more than 3 investment type properties (including Holiday Let, Buy-to-Let, HMO and/or Multi Unit Freehold), please look at our portfolio mortgage range.

When we receive your Holiday Let mortgage application, we will assess it against our underwriting criteria to help us decide whether we will lend to you. 

Below we have listed some of the factors we consider when underwriting Holiday Let mortgages. We hope that this information will be helpful to you, as it should give you some indication of your eligibility. 

Please note that the considerations listed below should be seen as helpful guidance rather than our complete criteria for Holiday Lets. This is not our full underwriting policy, additional underwriting criteria and assessment of a suitable property will apply.


  • England and Wales (including Isle of Wight, excluding Channel Islands)


  • 75% LTV
  • Minimum loan £40,000
  • Maximum loan £1 million for any single property
  • Maximum combined loan of £3 million for multiple holiday let properties
  • You can have a maximum of 3 Holiday Let properties mortgaged with the Society at any one time
  • Minimum Term 5 years
  • Maximum Term 40 years
  • Minimum age 21
  • Maximum age 85 based on the oldest applicant
  • Each applicant must be an existing owner-occupier
  • We will lend to first time landlords
  • At least one of the applicants must have a minimum income of £25,000 that is not derived from rental income
  • Minimum rental coverage of 145% (of mortgage interest payment) based on the initial pay rate plus 2%; or 5.5%, whichever is greater (our Holiday Let Mortgage Calculator will help you work this out)
How to Apply


If you're looking for a Holiday Let mortgage for yourself, the first step is to make an enquiry.

Once you've submitted your enquiry form, we'll be in touch to arrange an appointment that suits your schedule - our Mortgage Advisers are available for telephone or branch appointments, with evening and weekend appointments available.  

Your Mortgage Adviser will then be able to answer any questions on a non-advised basis, and if you wish to proceed, they can provide you with information on the products available and assist with your application.

Enquire Now


Brokers and Intermediaries


If you are a Mortgage Broker or Intermediary, details of how to submit an application is available on our Intermediaries website.

How to Apply - Brokers


You can also contact our dedicated Broker Team who will be happy to answer any questions you may have. 

Broker Team

Holiday Let Portfolio Mortgages

Our standard Holiday Let Mortgages are for a maximum of 3 properties.

If you want to mortgage 4 or more investment type properties (including Holiday Let, Buy-to-Let, HMO and/or Multi Unit Freehold), please take a look at our Portfolio Mortgages:

Portfolio Mortgages

Our Holiday Let Mortgage Rates

Sorry, we do not currently have any Holiday Let mortgage products on offer.

If you are looking to mortgage more than 3 investment type properties (including Holiday Let, Buy-to-Let, HMO and/or Multi Unit Freehold), please look at our portfolio mortgage range.

All our mortgages move onto our Standard Variable Rate after the initial rate period. Our Standard Variable Rate is currently 5.24%. If our Standard Variable Rate changes, your monthly repayments could go up or down. 

Holiday Let Mortgage FAQs

What is a Holiday Let Mortgage?


Holiday Let mortgages are loans designed for properties that will be let as holiday accommodation.

Not many lenders offer Holiday Let mortgages, as they are considered a specialist type of lending. 

But that doesn't mean it has to be more difficult to get one! 

At Monmouthshire Building Society we have years of experience in the Holiday Let market.

Your mortgage will be handled by Holiday Let mortgage experts, so the process should be just as straightforward as a standard Buy-to-Let mortgage.

Just like Buy-to-Let mortgages, Holiday Let mortgages are sold on a non-advised basis. This means you will not receive a recommendation from us on the suitability of your mortgage based on your individual needs and circumstances. 

However our Mortgage Advisers will be happy to take you through our product range and explain our application process in detail. 

Speak to an Adviser

How Much Can I Borrow?


This depends on several factors, such as:

  • The lender’s minimum and maximum loan size. 
  • How much you can afford to borrow - the lender will carry out an affordability assessment based on your circumstances, such as income and employment status.
  • The type of property and earning potential of the property.

Holiday Let Mortgage Calculator

If you know how much annual rental income a property is likely to make, you can use our Holiday Let Mortgage Calculator to find out how much we might lend towards that property. 

Holiday Let Calculator

How Much Deposit Do I Need?


This depends on the Loan to Value (LTV) of the mortgage.

Our Holiday Let mortgages are available up to 75% LTV – so you can take out a Holiday Let mortgage with as little as 25% deposit.

Should I Invest in a Holiday Let or a Residential Buy-to-Let?


Are you trying to decide between investing in a holiday let property or a residential buy-to-let?

Or maybe you're just wondering what the differences are between the two?

While we can't give you any advice on which one's right for you, we can provide you some information which might help you decide for yourself.

Here are some differences between holiday let properties and residential buy-to-lets:

Holiday Lets could have the potential to give you a bigger return on investment.

For example, in high season holiday let properties can make more in one weekend than a similar buy-to-let property makes in a month!

Sounds great, but you also have to remember that:

Holiday Let rental income can be less reliable.

With buy-to-lets, tenants are provided with an Assured Shorthold Tenancy Agreement.

This means you can expect regular rental income for at least 6 – 12 months each time you sign a new tenant.

With holiday lets, there’s a lot more uncertainty over whether your property will be booked, and they can take longer to get established to the point where you're bringing in regular income.

There are also seasonal fluctuations in income with holiday letting due to high and low season.

As with any investment type property, you will need to have enough rental income to cover the mortgage payments in all seasons - or you’ll be at risk of having your property repossessed.

There’s more work involved in Holiday Letting.

Holiday lets can be time consuming.

You’ll have to advertise your property, manage bookings, reply to enquiries and make sure your online listings are attractive and up to date.

This is a bigger commitment than residential buy-to-lets, which can go months or even years without needing to be listed. 

There are more overheads with Holiday Letting.

As a landlord of a residential buy-to-let, property maintenance is your responsibility.

However, paying the bills, providing furniture and keeping the property clean is usually down to your tenants, unless you decide otherwise. 

With holiday letting, it's all down to you.

As well as the costs of maintaining the property, you will also have to provide all the furnishings, pay the utility bills and make sure the property is clean for each guest.

Can you afford a Holiday Let or Buy-to-Let mortgage?

Remember that regardless of whether it's a holiday let or buy-to-let property you invest in, you will need to take into account how you would afford your mortgage if there’s a shortfall in rental income or if your outgoing costs increase. For example,  interest rate increases or changes in maintenance costs could have a big effect on your outgoings. 

The Society can assess the affordability of the mortgage based on expected income generated from letting the property, but the actual income may be different due to changes in the rental or holiday let market.

You will remain responsible for meeting the costs of your mortgage and additional costs of letting your property. With any investment type property you will need to have enough rental income to cover the mortgage payments or you’ll be at risk of having your property repossessed.

How Can I Choose a Good Holiday Let Property?


Choosing the right property can boost both your rental value potential and your chances of being accepted for a Holiday Let mortgage. 

Here are some things to research and consider when choosing a holiday let property:

  • Choose a popular tourist area - for example, a seaside town, a major city or a national park.
  • Research the demand for properties in the area. If properties are usually booked up in advance, that bodes well for your investment! Remember to check in both high and low season to get the full picture.
  • If the property is already being used as a Holiday Let, check how much rental income it currently makes. You could boost this with some refurbishment and good marketing, but it’s good to know as a starting point.
  • Check out the competition. What rates are similar properties advertised at throughout the year? This will give you a good idea of what you should charge.
  • Remember that while you can make changes to the property itself, you can’t change its location. Is it in walking distance to the local amenities? What about a pub, or the beach? Does it have a good view? These are all features which will attract holiday makers and help your property stand out.

Most Buy-to-Let Mortgages (investment type property loans) are not regulated by the Financial Conduct Authority.


Enquire about Holiday Let Mortgages

Simply fill in the form below and we'll be in touch within the next few days to discuss how we can help:

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