Can I get a mortgage for a second home?

Yes, you can get a mortgage for a second home, whether it's for your own use as a holiday home or for a family member. Lenders will assess your affordability based on your income and your existing mortgage commitments.

How much deposit do I need for a second home?

Lenders typically require a larger deposit for a second home compared to a primary residence, often starting at 15% to 25%.

Do I have to pay extra Stamp Duty on a second home?

Yes, in the UK, purchasing an additional property usually incurs a 5% Stamp Duty surcharge on top of the standard rates.

Can I rent out my second home?

If you intend to rent out the property for most of the year, you will likely need a Buy-to-Let mortgage rather than a second home (residential) mortgage. Some lenders allow limited holiday letting on second home products.

How is affordability calculated for a second home?

Lenders will look at your total income and subtract all existing outgoings, including your primary mortgage, personal loans, and the projected costs of the new second home.

Second Home Mortgages

Whether you're buying a coastal retreat, a city crash pad, or a home for your children, we can help you secure the right financing for your second property.

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Buying an Additional Property

A second home mortgage is designed for properties that you intend to live in yourself for part of the year, or for a dependent relative to live in. It is distinctly different from a Buy-to-Let mortgage, which is for properties you intend to rent out commercially for profit.

Because you will be responsible for two mortgages simultaneously (assuming you still have a mortgage on your main residence), lenders apply strict affordability checks and require larger deposits to mitigate their risk.

Key Considerations & Requirements

Larger Deposits

You'll typically need a larger deposit for a second home than for a primary residence. Most lenders require a minimum of 15% to 25% deposit. You can use savings, or you may be able to release equity from your main home to fund this.

Stamp Duty Surcharge

When buying an additional residential property in the UK, you must pay a Stamp Duty Land Tax (SDLT) surcharge. As of 2026, this surcharge is 5% on top of the standard stamp duty rates.

Strict Affordability

Lenders will stress-test your income to ensure you can comfortably afford the monthly repayments on *both* your main mortgage and the new second home mortgage, factoring in potential interest rate rises.

Second Home vs. Holiday Let

It's crucial to be clear on how you intend to use the property:

Second Home Mortgage: For personal use by you, your family, and friends. You cannot rent it out commercially on a short-term basis (like Airbnb) without the lender's explicit consent.
Holiday Let Mortgage: If you intend to rent the property out to holidaymakers for profit, you will need a specialist Holiday Let mortgage. Affordability is often calculated based on projected rental income rather than just your personal salary.

Ready to find your second home?

Navigating the criteria for a second property can be complex. Let us handle the hard work, assess your affordability, and find the right lender for your specific situation.

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Securing Your Second Home

The journey to owning an additional property involves specific financial planning.

Affordability Audit

We model your income against both your current and new mortgage commitments.

Deposit Strategy

We determine the best way to fund your deposit, whether through savings or equity release.

Lender Selection

We find the lenders most favorable to second home applications in the current market.

Completion

We manage the application through to completion, coordinating with your solicitors.