Holiday Let Mortgages: Documents You Need + Affordability Tips

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9d ago 15:04

M4A•Episode home

On this month's Host Planet Mortgage Podcast, Joe Stallard from House and Holiday Home Mortgages walks holiday let owners through the practical steps that make a mortgage application faster and stronger. From the very first checklist – ID, proof of address, income evidence, and bank statements – to how lenders read those documents, Joe explains what underwriters look for and how small oversights can slow everything down.

The conversation also covers real sticking points: proving income (employed vs self-employed), what lenders want to see on bank statements, how applications change for expats and other special cases, and why affordability is assessed differently from lender to lender. Joe breaks down concepts like top slicing (combining rental income with personal salary), proof of deposit, and whether the recent base rate cut is filtering through to products yet – so you know what to prepare and what to expect.

Key takeaways:

1. Preparation = speed and confidence. Have core documents ready before you speak to a lender: photo ID, proof of address, last three months’ bank statements, income evidence (payslips/P60 for employed; SA302s/tax calculations, tax year overviews and accounts for self-employed), plus any supporting info a broker requests. Clean, complete paperwork can materially improve your application timeline.

2. Affordability isn’t one-size-fits-all. Holiday let lenders model affordability in different ways. Some lean heavily on projected rental income, others assess personal affordability and may allow top slicing (using salary to support the loan). Expect extra questions if you’re an expat or have complex circumstances – answering them well can open up more options.

3. Know your proof-of-funds and the market context. Be ready to evidence the deposit (savings trail, equity release, gift letter, etc.). Joe also explains how to think about product choice around a base rate cut – headline rates can move, but criteria and documentation standards still rule the day, so focus on a clean, complete application to secure the best available terms.

1:18 Getting your documents ready can have a big impact on your application

1:51 The documents you need to get started

2:59 Proving your income

3:58 Proving your income when self-employed

5:18 Bank statement essentials

6:28 Lender questions in special circumstances, such as expat customers

7:26 Affordability for holiday let mortgages

9:33 Lender approaches differ in relation to affordability

11:14 Some lenders consider ‘top slicing’ by looking at rental income and salary

11:56 Proof of deposit

13:35 Has the base rate cut had an impact on products?

Host Planet: https://www.hostplanet.club/

James Varley: https://www.linkedin.com/in/jdsvarley/

Joe Stallard: https://www.linkedin.com/in/joe-stallard-9b462429/

House and Holiday Home Mortgages: https://www.hhhmortgages.com/host-planet

Episode to check next: Holiday Let Mortgages Explained: What You Need To Know: https://www.youtube.com/watch?v=EeiKXfMDLq8&t=1s

Host Planet Mortgage Podcast is presented by James Varley, a holiday let investor and property manager who is also the Founder of Host Planet. Before founding Host Planet, James spent 20 years in the media, including a decade leading corporate communications for the FIFA World Cup Qatar 2022.

Contact the show: [email protected]

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