Michael Gove’s new holiday let rules could render thousands of homes in holiday hotspots unmortgageable, an independent report has warned. The Levelling Up Secretary is primed to give councils across England new powers this summer to carve out locations where homeowners cannot turn their properties into holiday lets without planning permission. In Wales, councils already have similar powers – known as an ‘Article 4 Direction’ – but the policy extends to second homeownership as well as holiday lets. Residents of Gwynedd have spent the past year campaigning against their council’s efforts to introduce an Article 4 Direction. Gwynedd Council is due to vote on it next month, with a view to introduce the new rule in September. An independent report, which cost residents a collective £25,000 to commission, found that mortgage lenders would either not lend on properties in restricted use areas at all, or only lend if buyers could stump up much larger deposits to shield them from falling prices. Lenders consulted for the report, seen by the Telegraph, included Santander, HSBC, Foundation, Virgin and Halifax. Banking trade body UK Finance was also consulted. The report said: “Lenders do not favour restrictions on the sale of a property, as...