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Info for a second property

Here are our second home mortgage options

NatWest mortgages are available to over 18s. Your home or property may be repossessed if you do not keep up repayments on your mortgage.

There are many reasons why you might want to buy a second property and take out a second home mortgage. Before you go ahead, make sure it's something you can afford, you've thought about your deposit for a second home and that you're aware of all the potential costs involved.

Can I get a second mortgage?

  • Yes, you can have more than 1 mortgage at a time.
  • Your ability to get a second home mortgage will depend on (amongst other things) your likelihood to be able to meet the repayments.
  • If you apply for a second mortgage with NatWest, we will take your existing mortgage repayments and other property related costs into account for our affordability calculations, helping us decide if we could lend to you.
  • If you're looking to buy a second property so you can rent it out, find out more about getting a buy to let mortgage with us.
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How much Stamp Duty would I pay on a second home?

If you buy an additional property in England or Northern Ireland, you may have to pay a Stamp Duty surcharge. This is an extra percentage of Stamp Duty on top of the normal rate.

Other similar charges may apply in Scotland and Wales.

Learn about second home Stamp Duty costs Open in new window

Getting a mortgage for your second property

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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.

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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.

Learn more about buy to let mortgage eligibility at NatWest.

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See our How to Buy to let guide Open in new window
auctioneers gavel in front of a model of a house being used at a housing auction

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.

Our guide to buying a house at auction Open in new window

Other common second home mortgage questions

Can I have a 2nd residential mortgage?

Yes. Subject to affordability and other eligibility, you may be able to get a 2nd residential mortgage. This means a mortgage on another property that you aren't planning to rent out or use for any other commercial purpose.

Can I take out a second mortgage on my home?

No, at NatWest we wouldn't lend a mortgage loan for a property that is already mortgaged, unless you are switching to us as part of a remortgage.

However, if you already have a mortgage with us you may be able to borrow more on your mortgage.

How much deposit for a second home?

The minimum mortgage deposit you would need on a second home would be 10% (i.e. a 90% LTV mortgage). We do not offer 95% LTV residential mortgages on second homes.

If you're looking for a buy to let second mortgage, you'll need a minimum 25% deposit, or 35% if the property is a new build house or flat.

Check our mortgage calculator and get an AIP

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Find out how much you could borrow

Our calculator can help you see how much you may be able to borrow and what different mortgages could cost you.

Find out how much we could lend you Open in new window
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Get an Agreement in Principle

You can get a free, personalised indication of how much you may be able to borrow for a second property, and it won't impact your credit score.

Get an Agreement in Principle Open in new window