Finding Holiday Let Mortgages

By: Sean Horton

Finding the right holiday let mortgages are of the utmost importance if you are looking to maximise the investment potential of your holiday home.

While having a holiday let can be great fun, you must remember that it is still a business and as with all businesses, you need to ensure it is a financially viable product.

You may say "Well, I intend to retire to my holiday home in 10 years time and it will naturally rise in value anyway and make me money so any old mortgage will do" but this is not the case! Choose the wrong mortgage and you could end up spending out so much more than you have to.

So how do you go about finding the right holiday let mortgage for you? Well, first of all, do your research. Look around at what is on offer - all the large banks and lenders do special holiday let mortgage packs. Read the information provided and weigh up the pros and cons of each one.

This will give you a good idea of the type of products available for people who require a mortgage on a holiday home and means that you can make an educated choice as to which best suits your circumstances.

Armed with all this information, visit a specialist holiday let broker. He or she can then go through the sort of deals that they can arrange for you. You will often find that these holiday home specialists have access to exclusive deals that are not openly publicised to the general public, so it really can benefit you to purchase a mortgage this way.

A good broker will also give you help and guidance on the other stuff you may not be aware of, such as tax matters. Holiday lets can be treated as a business rather than as a personal investment, so there can be tax advantages to owning to a holiday let that you should know about.

Holiday let mortgages are important, so ensure that yours is the right one for you.

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