
Articles:
Can’t afford a holiday home? You could be
surprised
SB May 2007
When you think about
buying a holiday home, what
picture do you have in your mind? A secluded
cottage along a pretty country lane? A
fisherman’s house beside a little sandy cove?
You may have found that prices for the holiday
home you envisaged have already gone beyond your
reach.
If this is your situation, don’t give up. An
alternative kind of holiday home that’s growing
in popularity is the holiday park home. And the
cost of this is within most people’s reach.
There are a number of advantages in opting for a
holiday park home.
- No tax implications – although a residential
park home is liable for Council tax, owning
a holiday lodge does not incur Council Tax.
- Holiday parks are located in some of the
most stunning areas of the country like
Cornwall and the Lake District – areas where
the cost of a traditional holiday home might
well be out of your reach.
- There are different types of holiday parks
to meet different needs. Some, like the
Flamingo Land holiday park in North
Yorkshire, are designed for people with
young families and provide a range of
holiday entertainment. Others, like Hilton
Woods in Cornwall, offer more seclusion and
privacy, suitable for people who like a
quieter holiday.
- The lodges are eco-friendly and built for
minimum environmental impact.
- They are built to very high specifications
and have luxurious interiors. If you buy an
old cottage as your holiday home, you may
have a lot of very expensive alterations to
do before you can use it. A holiday park
home is ready for you to walk into.
- The parks are managed so there is no worry
about security when you’re not there.
The good news is that you can buy a holiday park
home for under £100,000. The not-so-good
news is that you can’t usually get a
mortgage.
However, there are specialist
holiday home
mortgage companies who specialise in providing
finance for holiday lodges. And their greater
affordability means that you may well be able to
release equity from your main home to buy one
outright. Talk to your mortgage broker or
adviser for more information
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