Second home loans

The maximum LTV we will currently consider lending to purchase a second home is 75%.

This lets the applicant apply for a mortgage on a property to be used primarily as a holiday / second home or for dependent relatives.

Second Home Loans (SHL) are included in the maximum TSB BTL limit of 3 properties or £2 million (whichever is achieved first).

We will not accept Right to Buy, Guarantor applications or Builders Incentive Schemes.

Occasional letting is allowed up to a period of four months with special conditions placed on the mortgage. If the second home is let for more than 4 months, this will be treated as a Buy to Let.

If the second home is to be let from completion for more than 4 months under a shorthold tenancy, Residential lending will be refused.

Income must cover all mortgage commitments and the additional expense of running second home properties.

Applications where a tenancy agreement is in place between applicant and family member cannot be accepted.