How we secured funding for a four-unit holiday let in rural North Wales
Not every investment property fits mainstream lender criteria. This case involved finding multi-unit holiday let mortgage for a property in rural North Wales. Each of the four units had external doors, but there were also internal connecting doors that allowed it to be let as one larger property.
The unusual layout, rural setting and neighbouring restaurant meant lender appetite was limited. The key concern was resale demand — whether the property would appeal to enough buyers in the future if the lender ever had cause to take possession of the property.
By discussing the case with various specialist lender contacts before pursuing a lender decision in principle, we were able to secure a funding solution that reflected the strength of the asset.
Talk to a specialist broker about your investment.
The challenge
This was a complex case because the property sat outside standard lending criteria.
Key issues included:
- Four-unit layout with flexible use
- Rural location in North Wales
- Next door to a restaurant
- Lender concerns around resaleability
- Limited appetite from mainstream lenders
For many brokers, this would be a difficult case to place. Even some of our specialist lenders could not get comfortable with the risks around the resaleability of the property.
Our approach
It was clear from the outset that this property would not fit the criteria of a lot of our holiday let lenders. We had to dig deep to find a solution:
- We went straight to our specialist holiday let mortgage lenders
- We described the flexible nature of the four to one property flexibility
- We made clear the proximity of a commercial premises and the owner’s own residence
Tenacity is a big part of our job. Good relationships with lender teams mean we can pre-qualify a case even before we go for a lender decision in principle (DIP). This streamlines what we do means when we apply for a DIP we have the confidence we have done all we can to pre-qualify the deal.
The result
We secured specialist funding for the client on a property that many lenders would have viewed as too complex.
Having been previously unencumbered, this remortgage released funds to allow the client to buy more rental property to expand their portfolio.
Why this matters for landlords and investors
If you are buying or refinancing an investment property that is unusual, rural, multi-unit or outside standard criteria, the right broker can make a significant difference.
We can help with:
- Holiday let mortgages
- Multi-unit investment properties
- Rural property finance
- Complex buy to let cases
- Specialist lending solutions
Need finance for a complex property?
If your case does not fit the usual mould, speak to a broker who understands specialist property finance.
Enquire now, speak to a specialist broker.