100 Percent Holiday Home Mortgages Can Be Hard To Secure Unless You Go With A Specialist

While you could shop around yourself for 100 percent holiday home mortgages they can be hard to find - you will have to know who specialises in holiday home mortgages if you want to get the cheapest deals, otherwise you will spend a lot of time searching and in some cases to no avail. A specialist broker in mortgages can shop around on your behalf and secure you the cheapest rates of interest and pass them onto you for you to consider.

In the majority of circumstances all that's needed to get the initial quotes for holiday home mortgages are a few basic details and your specialist can search through hundreds of lenders on your behalf. You will have to give some thought as to if you are going to buy to let as this will make a difference with some lenders as to whether or not you will get a 100 percent holiday property mortgage. In some cases you will not get the full mortgage and could have to make up the mortgage by taking out a secured homeowner loan but again a specialist should be able to find the best deal for you.

While a specialist in holiday home mortgages will be able to get you the best deal on the APR for your 100 percent mortgage the rates of interest will depend on your circumstances and can vary greatly from one lender to another.

One thing you have to be aware of when taking out a secured loan is that your property is at risk of being repossessed if you default on the holiday home mortgage and with loans being taken out for up to 25 years you have to know with certainty what you are getting yourself into.

Factors to take into consideration when deciding how much you want for the holiday home mortgage is how much your primary residence is worth, or in other words the equity you have in it because this will depend on the amount you can borrow and of course as you are looking for a 100 percent holiday home mortgage then this will make a big difference.

Sean Horton is a Director of Holiday Let Mortgages which offers UK residents the finance to buy a UK based holiday home. The site offers information about 100 Percent Holiday home mortgages, and second property mortgages.