How to mortgage a holiday home across the pond

Looking to purchase a holiday home in another country? It’s far from impossible to secure a mortgage with the expertise of our team. To discuss this or any other large or complex mortgage case, please contact us on 020 7519 4984 or email us.

Case profile

Senior Mortgage Associate Devraj Ray was approached by retired clients who were looking to raise money for the purchase of a holiday home in Florida against their semi commercial UK property, valued at over half a million pounds. The property comprised of ground floor commercial space and upstairs were privately rented flats, all unencumbered and rented on ASTs. For this case, the client’s sole source of income was the properties themselves.

Solution

Dev approached a lender who would be open to reviewing the source of income evidence. After some negotiation, the most suitable solution for the client was agreed and the clients were able to proceed with the purchase of their holiday home in the sunshine state!

Your home or property may be repossessed if you do not keep up repayments on your mortgage.

Changes in the exchange rate may increase the sterling equivalent of your debt.

The Financial Conduct Authority does not regulate some aspects of commercial mortgages, secured loans or bridging finance.

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Your home or property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Changes in the exchange rate may increase the sterling equivalent of your debt. You may have to pay an early repayment charge to your existing lender if you remortgage. Think carefully before securing any other debts against your home.  

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