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Specialist Mortgage Lender West One | 10 Points To Discuss

Specialist mortgage lender West One


As a mortgage network, we welcome partner lenders to join our weekly kick-off series. During these sessions, they delve into criteria and provide valuable insights. They focus on effectively presenting mortgage applications, especially within the specialised lending sector.

Today’s kick-off features Specialist Mortgage Lender West One. This collaborative forum is an invaluable resource for staying updated on industry trends. It fosters a deeper understanding of the nuanced aspects of mortgage application processes.

Additionally, it enhances the knowledge exchange between our network and partner lenders. This contribution leads to a more informed and efficient approach, which helps us effectively navigate the dynamic landscape of specialised lending.

Specialist mortgage lender West One | Our buy-to-let products

West One is a leading force in specialised mortgages and property financing. We help homeowners, landlords, and investors achieve financial goals. We pride ourselves on offering tailored solutions for first-time landlords and seasoned professionals.

Our buy-to-let products cater to a diverse clientele. They accommodate those applying under personal names or through limited companies. At West One, we commit to excellence, which is evident in our quality of service to intermediary partners.

Our expansive product range, a team of dedicated experts, and an intuitive online application portal back this commitment. These ensure a seamless experience.

Our extensive product lineup is accessible through our Standard and Specialist Product ranges. These are exclusively available via mortgage intermediaries. Whether a novice landlord or a seasoned investor, West One is your strategic partner for financial success.


Specialist Mortgage Lender West One | 10 Points to discuss with clients looking to finance a holiday let

Clients should be aware of various benefits when financing a holiday let. For example, the cost of furnishing a holiday rental can be deducted from pre-tax profits. Additionally, self-catering accommodation may fall under Business Rate property tax. This allows investors to claim small business rate relief instead of paying council tax.

Investors can claim certain Capital Gains Tax reliefs when selling their property. These include Entrepreneur’s Relief, Business Asset Rollover Relief, and Gift Hold-Over Relief. Income from a holiday rental is classed as ‘relevant earnings’. This means you can contribute towards your pension and reduce your income tax bill.

Moreover, married couples can divide profits from a furnished holiday let however they choose. This is regardless of the ownership split. Furthermore, there is potential for higher profit margins. The daily and weekly charges for holiday lets are higher than traditional buy-to-lets.

Specialist Mortgage Lender West One: Considerations

Several considerations should also be considered. Certain councils have restrictions on short-term lets, impacting the ability to rent the property. Running costs for a holiday let can be higher, especially if property management is outsourced. Holiday operators will charge a fee for their services.

Wear and tear are likely higher, with multiple occupants coming and going. Without the security of a tenancy contract, holiday lets can be vacant for long periods. This is especially true during the low season.

The property owner must cover utility bills and TV packages. In contrast, tenants usually cover these in a traditional buy-to-let.

Specialist Mortgage Lender West One |  Purchasing or refinancing a holiday let

At West One, our specialist buy-to-let product range suits amateur and professional landlords. It is ideal for financing complex transactions, including Holiday Lets.

Key Features of West One Holiday Let Mortgages

We lend to first-time landlords with no holiday letting experience. Our products are also available to individuals, limited companies, and expats. There is no minimum income requirement.

We can accommodate short-term rentals and provide serviced accommodation, such as Airbnb. Consequently, the property does not need to be in a typical holiday destination. Holiday lets are assessed on an AST rental basis, and the property must be suitable for standard AST rental.

Additionally, there must be no restrictive covenants related to holiday letting. This includes seasonal restrictions or holiday let usage only. However, we do not lend on holiday let complexes or in areas predominantly used for holiday letting. This is due to the limited resale potential in such areas.

By offering these features, West One aims to help landlords navigate the UK mortgage market effectively.

We’ve reached the end of our discussion on “Specialist Mortgage Lender West One.” Until next time, stay Connect!

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