Holiday Let Investment: 5 things you should know!
Where once buy to let was King of the Jungle when it came to investing in residential property, Government intervention, through disadvantageous tax changes has somewhat caged this animal and it does not look set to be let loose anytime soon. In 2019 many investors have now turned their...
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Top six questions about holiday let mortgages As a specialist Broker, we frequently receive questions from potential borrowers, asking about how holiday let mortgages work. The number of questions we receive is growing rapidly, possibly due to Airbnb and short term letting being regularly talked about in the UK national press. As a specialist in advising on... Continue reading
Cumberland raises maximum loan size on holiday lets Cumberland Building Society are one of the few lenders truly in the holiday lending market and we have regular contact with them to see if they can provide mortgage lending solutions to our holiday let investors. The reason is that they have made the UK holiday let/short term let market... Continue reading
What type of mortgage do I need for a holiday home? The type of mortgage needed to finance a holiday home is dependent on several key factors. The term Holiday homes covers a four main uses: Second homes for personal use only Second homes that are occasionally let out to holidaymakers Investment properties to be let as holiday homes only Investment... Continue reading
Can I buy a holiday let through my business? Yes, you can purchase a holiday let through your existing trading business, provided your business is a trading limited company. If your business is not a limited company then you are treated as a private individual for the purchase. You can buy a single unit holiday let property or... Continue reading
What size deposit do we need for a holiday let mortgage? In order to get a holiday let mortgage, you will need to provide at least a 25% deposit. The reason that the deposit required for holiday let is slightly larger than some buy to let mortgages, is that lenders view the risk associated with short term letting as higher... Continue reading
Can we get a mortgage for a holiday let business? Yes, mortgages to purchase or refinance a holiday let business can be sourced on competitive terms. This type of lending is arranged and underwritten differently from the standard holiday let mortgages offered by banks and building societies, who use criteria and products available to landlords operating buy to lets. Mortgages... Continue reading