Flat to use as Serviced Apartment

Flat to use as Serviced Apartment

18:17 PM, 8th July 2014, About 10 years ago 8

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I’m thinking about getting a flat with the sole intent of handing it over to a managing agent for the use of a short term serviced apartment. Flat to use as Serviced Apartment

Will I be able to get a normal buy to let mortgage for this?



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Mark Alexander - Founder of Property118

18:20 PM, 8th July 2014, About 10 years ago

Hi Craig

I suspect that plenty of lenders, but not all, will be happy with this arrangement.

Several of our sponsors at Property118 are mortgage brokers and whilst we do not allow contact details to be posted on our forum threads we do add contact forms to sponsors member profiles so you can get in touch with them that way.

Good luck and please let us know how you get on.

Joe Bloggs

19:05 PM, 8th July 2014, About 10 years ago

many leases will have a restrictions preventing such useage. it is also likely to require planning permission.

Yvette Newbury

20:19 PM, 8th July 2014, About 10 years ago

I doubt a normal BTL mortgage would suit for this purpose, but my main point is ensure you check with the local council as some areas (eg. Westminster) do not allow short term lets of less than 90 days.

Neil Patterson

20:51 PM, 8th July 2014, About 10 years ago

Reply to the comment left by "Mark Alexander" at "08/07/2014 - 18:20":

Mark is correct.

The devil will be in the detail and criteria which we will not have until a broker does a full fact find and whole of market search.

An old criteria for BTL lenders that consider holiday homes is that they get a reference from a national holiday company for likely annual rent. However it is not clear from the description that this property will fall under a traditional holiday let criteria.

Craig Beveridge

12:10 PM, 10th July 2014, About 10 years ago

Thanks for all the comments.


13:18 PM, 13th July 2014, About 10 years ago

You'll probably need a commercial mortgage, most but-to-lets insist on ASTs. You don't need planning permission as It is still considered a single residential dwelling (I have enquired myself). You will probably find that the buildings insurance for the block does not cover it though and nor does the head lease allow business use. Unless you can influence these and there is a high demand for short lets in your area you would be better to let it as a normal tenancy.

Craig Beveridge

10:32 AM, 15th July 2014, About 10 years ago

It would be in Edinburgh that I would be buying and all properties here are freehold.


13:07 PM, 7th November 2014, About 10 years ago

Have just come back to this thread - if you have individual insurance then you can check that. Freehold also does not mean there is no lease, I have a flat in Aberdeen with a lengthy one!

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