Can you rescue a part completed development project
Q: I have a question for you, but better give you a little background first. Unfortunately, I am in a bit of time related trouble with a part-completed development project. I own some land and derelict barn outright with no mortgage. Originally it formed part of my adjoining property and I...
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Should our Limited Company own a holiday let property? Q We have a couple of questions for you, but think it’s best to provide some background, before we can get to them. My wife and I are looking to purchase a holiday let business, which consists of seven fully converted, self- contained stone Barns, set in 4 acres, plus a... Continue reading
What are holiday let occupancy clauses? Q We have found a converted Barn in South Devon that we wish to purchase for use as a holiday cottage. There is a problem though - the lender we found on a mortgage comparison website has declined our mortgage application citing, “unacceptable security, 12 -month holiday let restriction”.  The... Continue reading
Can we have an interest only mortgage? Q We are having a problem sourcing a 70% mortgage to purchase a property to be used as a holiday let in Wales. Our case has been agreed in principle at a holiday let mortgage lender, however is failing their safety margin affordability calculation. It’s our preference to have the loan set... Continue reading
Holiday Let, Residential, or Commercial Mortgage: What do we need? Q My Wife and I live in Berkshire and are both senior Civil Servants. We are looking for a lifestyle change, which involves a relocation to Cornwall. Our jobs allow us to work from anywhere, as long as we can be in London twice a week for meetings. Our idea is... Continue reading
Need holiday home finance with no accounts Q We are thinking of purchasing a property in the Lakes that will be used predominantly as a Holiday Let. At present the property is owner occupied so has no holiday letting accounts available. As a start point, we went onto one of these compare the market mortgage comparison websites and... Continue reading
Interest only holiday let remortgage Q My wife and I own 2 properties in total, our main home and a holiday property in Bath that we have owned for 7 years. We are in the fortunate position of having no loans secured against either of the properties. We are both retired, aged 57 and have... Continue reading