I wish to buy a holiday home and rent out in the summer months, what is the best mortgage to have?

Posted on 8 October 2007

I own a house with no mortgage. I want to purchase a second holiday home which I will rent throughout the summer and use in the winter. What is the best type of mortgage?

Julia

Hi Julia,

For a property that you intend to let on an irregular holiday basis, there are mortgages available but the interest rates are higher than normal and only a few lenders do them. However, is easy to mortgage your current one and just raise the money out of it. Speak to a mortgage advisor about a straight-forward "remortgage to capital raise."

Katie.

Category: Holiday homes

 

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