If you are among those people who love to go on holidays and still want to get a homely feeling, you should consider buying a Holiday home in the UK. Buying a holiday home does not only give you your own place to live, it can also prove to be a great investment. If you want to buy a holiday home for your personal use, you should keep your needs in view and buy it in the area that you like and where you would want to spend your holidays.
However, if you want to buy a holiday home as an investment, you should consider buying it in an area which is easy to access, has good demand, and also has chances for future development. You should make sure that the location of your holiday home has something unique about it. This will increase its value, and will also give you something to be happy about.
The different types of Holiday Homes for Sale in the UK are Static Homes, Luxury Homes, Lodges, Beach houses, and many others. Glasshouses are very impressive and give you a great view of the surrounding areas. They are styled in a modern way and have open spaces. Beach houses have unique and inspiring designs and give you a feeling of luxury. The Luxury homes have contemporary designs and provide all the innovative and modern fittings and facilities. Timber lodges offer a traditional feel and style and are more homely.
The type of holiday home you buy mainly depends on your budget, lifestyle, and space requirements. Buying holiday homes for sale has great benefits. It is a lifestyle and you can enjoy your holidays without worrying about accommodation. You will have your personal living space that suits your own tastes, and you won't have to go through the hassle of getting accommodation every time you are on holidays.
It is always recommended that before getting a mortgage for your holiday home, you should shop around and consult a financial advisor regarding your needs. The most common mortgage types are an Interest Only Mortgage and a Repayment Mortgage. The most suitable is the Interest only mortgage, in which you only have to pay the monthly interest and the actual loan amount has to be paid at the end of the term. This gives you plenty of time to pay off the loan after several years.
Whether or not you want to let out your holiday home is entirely your own choice. While letting out a holiday home greatly helps in paying the mortgage, some people prefer to leave their homes for personal use. Letting out also depends on how frequently you intend to go and live in your holiday home.
Used Car Buying Uk
If you fall into any of the following categories and are considering buying or remortgaging a residential property in the UK for investment or buy to let purposes, you could be one of them:
(a) Non-UK residents (UK expatriates and Nationals of another country) wishing to purchase/remortgage a property in the UK for investment/buy to let purposes
(b) UK residents (Non-UK domiciled) wishing to purchase/remortgage a property in the UK for investment/buy to let purposes
(c) UK residents but deemed Not Ordinarily Resident in the UK for tax purposes, wishing to purchase/remortgage a property in the UK for investment/buy to let purposes during the period of their UK residency
Properties may be purchased via a UK Regulated Mortgage Contract for any applicants wishing to use a property as their main residence.
Properties can be purchased using an Offshore Company or Trust.
The applicant(s) may instruct their own solicitor for mortgages up to ?2.5m. or currency equivalent when the borrowing is in personal names and up to ?1m. when it is in company/trust name. For mortgages above these thresholds, the lender will instruct an approved solicitor to act on its behalf.
A RANGE OF OFFSHORE MORTGAGES IS AVAILABLE:
Residential Mortgage
Residential Currency Mortgage
Buy to Let Mortgage
Buy to Let Currency Mortgage
A PROFESSIONAL ADVISER SHOULD PROVIDE :
Tax efficient mortgage products for Foreign National & Overseas clients Foreign Currency or Sterling Mortgages
Individual or Trust or Company Borrowing
Attractive Interest Rates
Experienced staff who will provide you with an efficient, friendly and knowledgeable service
A simple, easy to use application process backed up with quick decisions
Whatever your circumstances and requirements, an Offshore Mortgage Service should provide a mortgage product that is designed to suit your situation. It should also support you throughout the process of buying the property, whether the application is in a personal name(s) or an Offshore Company/Trust.
There is no maximum amount of borrowing but loans are limited by being subject to a maximum of 80% of the lender's professional valuation of the property.
For Investment/Buy to Let properties, the rental income must equate to a minimum of 125% of the annual (interest-only) borrowing costs and the tenancy must conform to Assured Shorthold Tenancy (AST) and Company Lets will also be considered.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. CHANGES IN THE EXCHANGE RATE MAY INCREASE THE STERLING EQUIVALENT OF YOUR DEBT.
Both Sarah Tina Parkinson & Nigel Osgood are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Sarah Tina Parkinson has sinced written about articles on various topics from Family. Sarah Tina Parkinson is a specialist writer covering Blackpool self catering accommodation and. Sarah Tina Parkinson's top article generates over 880 views. Bookmark Sarah Tina Parkinson to your Favourites.
Nigel Osgood has sinced written about articles on various topics from Real Estate, Family and Finances. The author, Nigel Osgood, has been worked in banking and financial services for many years and has written many industry-related articles.http://www.afpmortgages.co.uk. Nigel Osgood's top article generates over 135000 views. Bookmark Nigel Osgood to your Favourites.
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