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Buying a second home

Buy to let or
holiday home

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How much tax will you pay?
A mortgage for your property
Thinking of buying at auction?
Ready to take the next step?
Find out how much we could lend you

Are you buying a rental property 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 tax will you have to pay?

You'll have to pay any standard Transaction Tax, which varies across the UK and is based on the price and location of the property you're buying. You might also have to pay an Additional Dwelling Supplement. You can find how much you may have to pay by using the calculator on the Revenue Scotland website.

Use the calculator

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
  • Royal Bank of Scotland mortgages are available for over 18s on UK properties.

Take a look at our mortgages

Buying a property to rent out

Look into the 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
  • Royal Bank of Scotland mortgages are available for over 18s on UK properties.

More about buy to let mortgages

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.

Read our guide

Ready to take the next step?

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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.
Use our calculator
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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.
Get an Agreement in Principle

Related articles

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The home buying process

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Joint mortgages

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