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I want to raise £70k to buy a holiday home in France

Posted on 7 April 2014 by Terry


I have my main property worth £500k. No Mortgage. I also have a buy to let worth £150k with no mortgage and rental income of £8k per year. I want to borrow £70k to buy a holiday home in France. Advise please.

Terry,

Without knowing the full circumstances of your personal situation I can't be too definite, but you would seem to be in a position where you could capital raise on either your main residence or your Buy To Let to get the £70,000 needed to buy the home in France.

It would probably come down to which is most cost effective, which in turn will be down to your age, income, overall credit profile, etc...... and your preference as to whether you want to have the charge on your main residence or your Buy To Let?

If you'd like to discuss your options in more detail, then please contact one of our consultants on 0344 346 3672 and they'll be able to give you an idea of how we can help.

Regards,

Simon

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