Potential for Income and Growth
Owning a holiday let property has all the same potential for income and growth as a buy to let property investment. Holidaymakers pay for the rental in advance and because there is no legal landlord-tenant relationship created, there are rarely any tenant problems.
Own and Family Use
Properties that need a decent amount of work to bring them up to the standard expected by holidaymakers are unlikely to fit the routinely advertised Holiday let Mortgage products. The reason is quite obvious – they won’t be in a position to be income producing immediately and it’s that income which the lender relies on to pay the mortgage.