Expat Holiday Let Remortgage
Holiday lets sit in an odd corner of the mortgage market even before you factor in living overseas. Lenders assess them against projected income from short lets – Airbnb-style bookings, seasonal peaks, the works – rather than a single tenant paying the same rent every month. That’s a fundamentally different calculation to a standard buy-to-let, and only a handful of lenders bother offering it at all.
Add expat status into the mix and the list gets shorter still. We’ve been arranging finance for British expats since 2008, and holiday let remortgages for owners living abroad are one of the more specialised corners of what we do.
Why remortgage a holiday let?
- Your current fixed rate is ending and your existing lender won’t offer a new one now you’ve moved abroad
- You want to release equity, perhaps to buy another property or fund renovations
- You’re switching ownership from your own name into a limited company or SPV
How the numbers get assessed
Expect the lender to want a realistic projection of your seasonal rental income, often supported by figures from a local letting agent or booking platform history if the property’s already trading. Peak-season weeks and off-season weeks get averaged out rather than taken at face value – nobody’s lending against your best month.
Currency matters here too. If you’re earning abroad in something other than sterling, dollars or euros, lenders will typically want a wider margin of comfort, and it’s worth remembering that your mortgage is fixed in sterling regardless of what currency you’re paid in – so a weaker pound relative to your income currency works in your favour, but the reverse is also true. If you’re buying a holiday let for the first time rather than remortgaging one you already own, our Expat Holiday Let Mortgages page covers that instead.
Our fees
£295 application fee, 1% completion fee. No hidden costs further down the line.
Frequently Asked Questions
Can I remortgage a holiday let I already own if I’ve moved abroad since buying it?
Usually yes, though the lender pool narrows compared with a UK resident owner. We’ll know quickly which lenders are realistic options.
Does the property need to be actively let already?
Not necessarily, but a trading history makes the projection easier and often gets you a better rate than a purely speculative estimate.
What’s different about the tax treatment versus a standard buy-to-let?
Furnished holiday lets have historically had different tax rules around allowances and reliefs, though this is an area worth checking with an accountant given rules can change – we can point you in the right direction.
How long will this take?
Budget 6-10 weeks, sometimes longer if the lender wants extra evidence on projected income.
Do I need to be in the UK at any point?
No, the whole process runs by post, email and e-signature.
Get in touch with details of your property and current mortgage and we’ll talk you through what’s realistic.
