Buying a second home

Buy to let or holiday home?

Buying to let or dream holiday home?

There are lots of reasons why you might want to buy a second property. Before you go ahead, make sure it's something you can afford and that you're aware of all the potential costs involved.

How much Stamp Duty will you pay?

Standard Stamp Duty rates range from 2%-12% of the property price. This tax is payable on properties over £125,000.

If you buy an additional property you'll have to pay an extra 3% in Stamp Duty, regardless of the purchase price of the property.

Getting a mortgage for your second property

Buying a holiday home

Your lender will need proof that one of your properties is used as your main home.

You'll also have to explain the purpose of the second property.

You can then apply for a second residential mortgage to help buy your new home

If you get a mortgage for a holiday home, you won't be able to rent it out. If you're intending to rent it out you should apply for a commercial loan

NatWest mortgages are available for over 18s on UK properties.

Buying a property to rent out

Look into the condition and location to make sure it's a sound investment.

The amount you earn in rent will have to exceed an agreed percentage of your monthly mortgage repayments

Some lenders will limit the amount you can borrow to buy a rental property, or the number of buy to let mortgages you can have

NatWest mortgages are available for over 18s on UK properties.

Thinking of buying at auction?

If you're considering buying a property at auction, our guide can help you understand what's involved and what costs you may have to cover.

Ready to get started?

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Check out our mortgage rates

Our calculator can help you see how much different mortgages may cost you so you can work out what you can afford.
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Get an Agreement in Principle

This will help to show estate agents that you're serious about buying a second property, and it won't impact your credit file.

Is there something else you're looking for?

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