A remote holiday rental success story

Customer situation

Our client got a bridging loan to buy and fix up a holiday rental in a remote part of Scotland. As their loan term came to an end, they needed to pay it off fast to avoid extra fees.

Challenges

There were some problems:

• The property was in a remote area in Scotland.

• It was an old stone building listed for its historic value.

• On top of this, the holiday rental business didn't have much trading history or accounts.

Solution

We found a new loan for £278,900.This was a term buy to let product designed for holiday lets. What’s more, we used the lender's fast internal legal process to get it done quickly.

Outcome

By organising this solution, the client paid off their loan on time and avoided extra fees.

Important note

Any property used as security, which may include your home, may be repossessed if you do not keep up repayments on your mortgage.