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 Buy to Let 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.

Universal Credit cannot be used for affordability and should not be keyed.

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