A couple approached The Stafford Building Society through their broker, to remortgage their main house, and an existing holiday let, Olive Barn, both held on a single title. They needed to repay bridging finance and transition both properties into short-term holiday lets. With verified Airbnb income, seasonal rental projections, and plans to move into another property they owned, they required a lender who could take a flexible, practical view of their situation.

Case at a Glance

  • Loan Purpose: Remortgage to repay bridging finance
  • Security: Main house and Olive Barn on a single title
  • Letting Platform: Airbnb, with agent-verified income projections
  • Post-Completion Plan: Move into a separate barn, freeing up both properties for letting
  • Income Basis: High/Medium/Low rental projections over a 30-week holiday season
  • Additional Income: Applicants had earned income, though not essential for lending

The Challenge

The applicants needed to replace a short-term bridging loan with a long-term mortgage, using projected holiday-let income rather than fixed rental agreements or salary. Because both properties were on one title and had previously served as residential homes, many lenders would not accommodate the structure. They also planned to move out, leaving both buildings available to let, which required clear and timely execution.

Our Solution

As always, the team at The Stafford, took a pragmatic and more human approach to the case. From the outset, we recognised that the applicants weren’t asking for something unusual, they simply needed a lender who understood how holiday let income works and could reflect that in a sensible lending decision.

To assess affordability, we used a 30-week letting period with High, Medium, and Low weekly rent projections – an approach that aligns with our standard holiday let criteria. The applicants provided a 12-month Airbnb income statement for Olive Barn, giving us a strong picture of its current performance. They also supplied a letter from a holiday-letting agent confirming realistic weekly rental estimates for both properties.

Although the properties sat on a single title and had been used as residential in the past, we were comfortable with the set-up, given the clear intent to operate both as short-term holiday lets. We also considered the applicants’ plan to relocate to another barn they own, which would free up the main house for letting alongside Olive Barn and increased income.

Because the projected holiday let earnings comfortably supported the mortgage, we didn’t require a minimum earned income. What mattered more was the applicants’ clear plan, strong documentation, and the commercial sense behind their proposition.

In the end, we offered a holiday let mortgage that repaid the bridging finance in full and set them up for long-term income generation – all without unnecessary hurdles, and just a little of a human approach.

Why Choose The Stafford Building Society

We don’t rely on box-ticking. Our team takes the time to understand each case, applying expertise and human judgement to deliver the right outcome.

In this case, we saw the applicants’ ambition and the income potential of their properties, so we built a solution around them.

Place Your Complex Case with Confidence

Working with The Stafford for Intermediaries means partnering with a lender who understands the real world, and makes lending decisions accordingly.

To discuss your case or find out how we support mortgage brokers:

Contact Maisie Hartland, Telephone Business Development Manager

Email: brokers@srbs.co.uk

Phone: 01785 223212

The Stafford for Intermediaries – More Human. Less Hurdles.