Holiday Let Mortgages
Managing a Holiday Let Mortgage More Effectively
A holiday let property can be an excellent source of income. The holiday letting industry is flourishing at the moment with stay at home holidays becoming increasingly popular and with the right property in the right location this can prove to be an excellent investment.
As with other buy to let mortgage options, interest rates tend to be somewhat higher than applicable to a traditional mortgage and additional fees for arrangements can often apply. These mortgage options tend to be limited to larger banks and specialist lenders and as a whole of market mortgage broker we are able to review each option to find you the most suitable for your circumstances.
Mortgaging with Expenses Covered
Accurately calculating the expected rental revenue gain against the mortgage interest payments is a vital factor. This can often be more difficult with a holiday rental property as the tenancy is likely to be over far shorter periods and will likely require a good deal of management.
You should also consider that the property and its contents will need to be cleaned and maintained between visitors and it is important to have a monetary buffer in place to cover unexpected expenses.
All of these and more factors need to be considered when investing in a mortgage for a holiday let property to ensure that unanticipated mortgage costs do not result in a substantial loss of profitability in the investment.
With these elements considered, we can provide a fast and efficient process to find the mortgage that will make your holiday let property a great asset. Call us today on 01467 624939 for advice on what mortgage options we can provide for you or send us a quick email about your situation via our quick contact form.
Commercial and business buy to let mortgages are not regulated by the Financial Conduct Authority.