Second Property Mortgages

Second home mortgage options for you and your family to use for holidays

Your Guide to Second Home Mortgages

Securing second home mortgages doesn’t have to be stressful. While buying a second home often isn’t as straightforward as a standard residential property, many lenders offer products to facilitate the purchase of second homes or investment properties. At HHH Mortgages, we can help you find the very best options and simplify the process significantly, for your convenience. Here’s everything you need to know…

Second Property Mortgages

Buying a second home needn’t be stressful with House and Holiday Home Mortgages.Buying a second home often isn’t as straightforward as buying a standard residential property, however, many lenders have products to facilitate the purchase of a second home or investment property. House and Holiday Home Mortgages allows you to find the best options to make the process easier than you ever thought possible.

Second Property Mortgages Vs Buy-To-Let

Contrary to popular belief, the second property mortgage isn’t a product in and of itself; this is because buying a second property with the intention of living in it is very different from buying one for investment purposes. 

For example: if you want to buy a second property with the intention of letting it out, a ‘second property mortgage’ is not the right product. Instead, you should be applying for a specific ‘buy-to-let’ product. 

If in the event that you opt for a second property mortgage and then later decide that you wish to rent the property out, you will need to seek legal permission from the lender (and incur admin charges along the way). 

Second residential mortgages are the product that you will need when purchasing a second home. There are a number of reasons that you may wish to do this, including:

  • Acquiring a holiday home for your family. 
  • Helping a relative onto the property ladder.
  • Having a place to stay in the city during the working week.

In each of these situations, you will need to take out a second residential mortgage, aka second home mortgages

Hayley CliftonHayley Clifton
12:34 22 Dec 22
Mark at HHH has helped me with a number of mortgages now, both when I’ve been moving home and when I’ve needed to remortgage. Every time he’s been a pleasure to work with, and I’ve felt that he has my best interests at heart. I would recommend him wholeheartedly – in fact, I have done to many of my friends.
Sam EllistonSam Elliston
11:13 07 Dec 22
Craig was a personal expert, providing great advice and communication throughout the buying process for our holiday home. He dealt with shifting situations in mortgage products, sellers pulling out, and mortgage extensions without any problem and removed all of the stress from us – he has found us a great deal and been Uber helpful throughout. Thanks so much.All of the advice, patience, and expertise has been very much appreciated. It has created a really great moment for me and my family, to own a holiday home in a lovely part of Suffolk.
Emma BurryEmma Burry
07:19 22 Oct 22
We have used HHH mortgages twice in the past year and we can’t fault their service. Sally has supported our applications twice and made sure she has communicated effectively with us every step of the way- even whilst she was on holiday! Both Sally and Caroline helped with a complicated application and were in touch daily- we can not thank them enough as they have helped us to secure a mortgage for our dream home!
Jenni CluttenJenni Clutten
09:32 18 Oct 22
Sally couldn’t have done more to help me secure a house and mortgage over the last 12 months. I have finally completed on my home and I am so grateful for her advice and patience with me, as I embarked on trying to buy a renovation property in an extremely competitive housing market. I always had absolute trust in HHHM to ensure I was getting the best rates and that they were considering my long term needs. The phrase going above and beyond doesn’t describe enough, how thoughtful and dedicated Sally has been to getting me across the line. Thank you!
Lydia ColeLydia Cole
18:43 11 Oct 22
I cannot rate Craig from HHH mortgages highly enough. As a first time buyer I found the prospect of buying a flat quite daunting. Craig not only secured me a great deal on a mortgage but also supported me throughout the process of the sale through to completion. Craig was always on hand for advice and help and was particularly helpful at dealing with my solicitors and ensuring any problems were dealt with quickly. Craig also spent a lot of time chasing updates on my behalf which alleviated so much stress for me. I’m very grateful for all the work Craig put in and he’s been a joy to work with. I will definitely be recommending him and returning to him in the future!
Rachael BakerRachael Baker
13:33 14 Sep 22
Joe and Ben at HHH Mortgages were great! I had a few tricky circumstances to navigate, and they were both super helpful throughout, professional, and came up with solutions to make the entire remortgaging process a joy. Would highly recommend and definitely will be working with them in the future!
Pat TalbotPat Talbot
16:34 04 Apr 22
A professional company with a personal touch. It was good to speak with an advisor who not only listened patiently whilst we explained our problem, but relentlessly sourced a wide range of options with speed, care and attention to detail.
Claire HillyerClaire Hillyer
19:54 28 Mar 22
Since 2016, Mark has supported us in finding two affordable mortgages and (importantly) ones that have been just right for our needs. He has always listened to our requirements and helped us to explore different options. Mark has a caring nature and we’ve appreciated him guiding us through what could have been a stressful process. We would recommend him to anybody.
Elaine ReaderElaine Reader
19:23 20 Dec 21
Having entered the house-buying process with some trepidation, given our circumstances (self-employed, etc.), we cannot be more grateful for the superb service provided by Joe and Ben at HHH. They were always easy to contact, friendly, helpful, and took time to explain everything to us. The whole experience was notable for a level of care and attention to detail rarely seen.We cannot recommend them highly enough.
Paul JohnPaul John
14:03 01 Dec 21
A seamless, professional service, from start to finish. HIghly recommended. Mark took the time to understand our exact needs and matched us with the ideal product at a very competitive rate.
Annabelle MilesAnnabelle Miles
13:46 17 Nov 21
Brilliant service as always – Mark is a delight and answered all our questions about our remortgage swiftly!
James WatsonJames Watson
10:35 08 Nov 21
We have received superb service from House & Holiday Home Mortgages, and we would not hesitate to recommend them. From start to finish, Joe Stallard and Ben Walker have both been excellent – friendly, easily contactable, quick to reply to emails and totally professional throughout. It is fair to say that they have made the whole process a pleasure. Thank you!
Matt GMatt G
13:22 27 Jul 21
Sally helped me buy my first house in 2021, at the height of the stamp duty holiday property rush. She not only found an excellent mortgage deal, but was full of useful advice all the way through the process of house buying: from viewings to completion. Despite the busyness of the market, Sally was always responsive and efficient, finding and applying for mortgage deals with impressive speed.Would definitely recommend her to any first time buyers: made the whole process so much easier and went such a long way having someone on hand to explain the confusing world of house hunting.


Many lenders offer products designed for homeowners who are looking to buy a second home. While the basic concept of buying a second property is similar to a first home purchase, there are several factors that need consideration:

  • Your finances will come under scrutiny during application: lenders must know that you are able to meet the repayment terms on your existing contract in addition to any second home mortgages.
  • A bigger deposit may be required: most lenders will typically seek a larger deposit on a second property (often 15%). 
  • You will be expected to pay a larger Stamp Duty fee: the surcharge is currently at 3% on top of the fee already paid. So, if buying a second property that faces a 2% (£125,001 – £250,000) duty as standard, the fee will be increased to 5%. It is critical that you get an accurate stamp duty calculation from your solicitor
  • Holiday homes to let require specialised mortgages: if you are planning to use your second property for short-term rentals to tourists, a specialised holiday let mortgage will be required (some lenders underwrite these agreements on a case by case basis, although there are general criteria guidelines that properties and buyers will typically need to meet).

For most homeowners seeking a standard second home, the second home residential mortgage route is the way to go. 

HHH Mortgages can help you find the perfect lenders and deals to ensure that your second home purchase is as simple and straightforward as possible.



Buy-to-let isn’t the only way to generate money from a property. You may also have plans to ‘flip’ the property or develop it before reselling at a profit. Either way, there are two finance products available to you in this situation:

  • Bridging loans: these are ideal for properties that aren’t currently able to be mortgaged due to lacking facilities. Shorter-term loans do carry a high-interest rate, but they can be secured against the property and will be offset by the profits made by selling the property post-improvement.
  • Development loans: these are ideal for property developers that are taking on major restoration tasks before planning to sell. They normally last for 12-18 months and you will need to chip in around one-third of the development costs yourself. Still, they can open the door to several opportunities.


Most lenders are happy to process joint applications for a second property. Better still, you will not be limited to buying the second home with the person you share the primary home with. This is particularly useful when helping a relative get on the property ladder.

In most circumstances, joint second property mortgages are limited to 2 applicants. However, some lenders may extend this to 4-applicants.

When taking out a joint mortgage on any second property, the product stays the same. So, if it’s residential, it will become a joint residential mortgage. Likewise, if you seek a buy-to-let mortgage, it becomes a joint buy-to-let.

Whatever you require, HHH Mortgages can help you to find the perfect solution for you. 


There’s no specific upper age limit as to when you can get a mortgage on a second property, although lenders have their own criteria. So, if you have equity tied up in an existing property, re-mortgaging to gain the deposit and free up more capital can support your application and allow you to secure the deal you need.

Of course, you still need to meet the repayments, which is why a broker can help you save time before you approach a lender. 


The Difference between Holiday Let Mortgage and BTL


Beginners Tips for First Time Holiday Lets


If you have the finances and the incentive to buy multiple homes, there is nothing to stop you from doing it. Technically speaking, UK laws allow you to own as many homes as you like. Naturally, though, the more you buy, the harder it can be to secure finance.

Aside from being required to show lenders that you have the capital to meet repayment terms on all properties, you must also prove that the properties are all for residential purposes. You cannot buy a third or fourth home on a residential mortgage if you intend to rent it out. If this is your plan, you’ll need a buy-to-let contract. Again, it is possible to own multiple properties this way, and it opens up the potential for portfolio mortgages to finance your investments.

At HHH Mortgages, we can help you follow the right path for your second mortgage as well as any subsequent properties that follow. Simply get in touch with us today to find out more about how we can help.