Being Flexible with Holiday Lets.

27th May 2022

Take a look at a recent case where our flexible approach to lending helped a couple expand their Holiday Let portfolio.

A couple were looking to make a holiday let purchase in Cornwall. The couple had experience with holiday lets, with five properties already in their portfolio. Mr works in the hospitality industry managing one of the existing properties, while Mrs works in the travel industry. They were looking to increase their portfolio and income stream with this purchase.

We assessed their existing portfolio and all incomes from both Mr and Mrs, which were satisfactory. There was an additional complexity with the purchase property having two residential units on the same title. The Society had already decided to adapt lending policy during the pandemic to enable a common-sense view on cases. We then took a balanced view of the case and were happy to proceed to make an offer.

By looking at a case like this, we enabled the customer to continue generating an income and supporting the local economy in Cornwall.

“You lent to us at a time when the hospitality industry was suffering the consequences of COVID, and other lenders were making lending really difficult with higher deposits and difficult lending criteria.”

“I wanted to give you just a little insight into the lives you have impacted and what we have achieved in our local environment as a result of the business that you run saying yes to our application.”

We’re proud to know that our attitude to lending has made such a difference to one of our Holiday Let customers’ lives and the knock-on effects this has on the local economy.

Holiday Lets

We're here to support your complex cases with our common-sense approach to lending. By understanding the person behind the application and treating every case on its own merits, our flexible lending policy empowers our underwriters to make sensible decisions.