Financing for Airbnb properties

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    Financing for Airbnb properties

    Hi there,

    I am new to the forum and looking to purchase my first rental property. I was hoping to let the property on Airbnb etc for short term rental as the returns seem much better than a standard rental in my area. I had spoken with a mortgage broker who advised that lenders are not keen to lend on this type of arrangement as it does not fit criteria for a residential or buy to let mortgage and was wondering if you guys have any ideas or recommendations on the best way to finance this type of property?
    The best the adviser could come up with was a Holiday let mortgage with a few lenders however this was not tailored to Airbnb or a second residential mortgage with Metro Bank as they allow you to let a second residence for up to 90 days on Airbnb.
    I would prefer to keep everything above board and do it right, however struggling to find any form of financing to suit.
    Any ideas would be much appreciated.

    Thanks

    #2
    First change your broker , clearly doesn’t know the market.
    Contact the following;-
    The following have limits on loan to value but broadly speaking one can secure certainly loans of 70% with some at 75%, a good broker will point out which lenders only deal via the Intermediary sector.
    • Bath
    • Castle Trust Bank
    • Chorley
    • Darlington
    • Dudley
    • Foundation Home Loans
    • Harpenden
    • Hodge
    • Leeds
    Lendinvest
    • Melton
    • Paragon Portfolio
    • Penrith BS
    • Suffolk
    • Swansea BS
    • The Mortgage Lender
    • Vernon BS
    • West One

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