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Found 19 results

  1. Hi, I understand a furnished holiday home available for let 140 days a year (or some such amount) is subject to business rates and not council tax. Further, that the business rates can be offset by using a small business rates relief. Presuming, this is correct, can anyone dig deeper into this please. (I have a fairly concrete idea of what I may purchase, a house that sleeps 3-4 people (in 2 bedrooms) with a purchase cost of £85 - 105k in England with an estimated gross rental of £11k.) * How is the rateable value arrived at for a holiday home let in England; does the council do this; are th
  2. Hello all, I've listened to all of The Property Hub podcast and now a new forum member. I am based in Kent but as a keen mountain biker spend some time in Wales, in particular Afan Forest. I am interested in buying a property that requires a refurb close to the Afan Forest Mountain Bike Trail Centre with the hope to do it up and run it as a Holiday Let for mountain bikers and hikers. I was looking at smaller villages such as Cymmer, or possibly larger towns like Maesteg and Neath. Putting Covid to one side, my hesitation is that bookings will be much slower during the winter mon
  3. I was interested to hear form anyone in the Property business in France. I'm looking at setting up a ltd company and buying in an area we spend around 3 months in every year. I'm more interested in short term holiday lets (air bnb style) than long term lets. It should return reasonably on investment despite only gauranteed income around 7 months of the year. (I'm discounting the rest of the year and if its rentable then, its a bonus.) The plan is an ltd company and interest only mortgage, second property within around 12-18 months... etc etc. Very much like what many are doing in the UK - exc
  4. Hi all New investor to the property market, wondering if I can use a BTL mortgage for a Holiday Let property? I have heard that technically you are not supposed to do that, and that in fact you should seek out a specific holiday let mortgage, but that they are then much harder to attain and at worse rates? Anyone brave enough to advise!? Many thanks in advance Dan
  5. Hi all, I am new to property investment, and currently weighing up strategies for the coming years for my new business. I am set on BTL's for now but may try to obtain a Holiday let as I am based in the Lake District and believe there will be an increased demand for domestic Holiday's post covid. About myself, I am a Director at a father-son fire safety business based predominantly in the North West but do subcontract for nationwide companies. I have been in the industry for several years and have achieved Associate status with the Institute of Fire Engineers with me also being on track t
  6. Hi everyone, I hope you’re all safe and well. Exceptional times. I’m hoping to start a property business in 2021, ease out of corporate life, and permanently move to the coast. I already have a flat in London and a small cottage in Dorset. I’m trying to evaluate whether to start a holiday lets business or stick to standard rental model. Does anyone have any insight on the pros and cons, or insights into the comparative financial performance of these two models? Or has anyone looked at the two approaches and can share their decision. Any advice would be gratefully received.
  7. I'd be interested if hubbers have any experience or advice on this... I'm an expat living overseas for most of the year, but spend some time in London. I have had enough of hotels and would like to buy a flat to stay in when I am over. But I would also like to rent the flat out when I am not there through a professional company. Longer term, I would like to keep the flat possibly for sole personal use or to give to my kids. At the moment I would only need the flat for around 30 days a year. Clearly the yield in London is not strong, but this does not need to be a money spinner. I h
  8. WOW do I need this website and forum! Talk about venturing into the unknown.... scared and excited....... So, we have an idea to purchase a property for use as a furnished holiday let. I have started to read up on all it entails and have bought Iain Wallis Avoid Property Taxes and his Essential Tips book and have started to go through the helpful videos on this site. However I still have some questions which if anyone can point me in the right direction would be greatly appreciated in terms of how we secure the funds. Option 1: Remortage home (owned outright) and use the fun
  9. Hi there, I was thinking of buying a flat in Glasgow for the sole purpose to holiday let. Would this be as profitable as I think it would or is it a silly idea? If so is there any hidden costs/legislation that would make this difficult? Cheers
  10. Hi Folks, I would welcome any feedback on my current situation. I am looking to purchase a holiday let property in the UK through a limited company. Looking at Limited company mortgages in general, they typically offer somewhere in the range of 75%-80% LTV. To fund the remaining 20-25% I could remortgage my property. I was thinking that I could lend the money to the limited company and the income generated would help pay for remortgaging. Is this the typical way for company mortgages to be set up? What are the downsides to this arrangement? Are their better arrangements f
  11. Any advice appreciated! I have a second home up North which was used whilst working away from home which now sits empty since I’ve relocated back South with work. I am am looking at ideas on how to make the property work as a Holiday Let but not sure how best to fund the project- it’s currently on a resi repayment mortgage with Halifax and tied in for another year on fixed rate. The property sits at 60% LTV and has massive potential as a holiday let due to its location in a national park. The property is a 3 bed country house with an acre land and has a s
  12. Hi I own a property in Ryde, Isle of Wight that has been a holiday let for the past 2 years, but am looking to let on a long term basis. Does anyone know the best letting agents on IOW, preferably one that guarantees payment of rent on time?
  13. Hello Hubbers! We have finally got an offer accepted on a one bed flat facing the sea! We aim to short-term rent it on booking.com and Airbnb. After speaking to two mortgage brokers, there is only one lender who will offer a mortgage to us as a holiday let through a limited company. They are offering an average 3.3% for a two year fixed rate but has £2800 of fees attached to it (property is only £160k). Plus really horrible rates for solicitors which I might be charged twice for (dual representation??) My accountant doesn't really understand about property s
  14. Hi! Briefly as I can, here is my plan... I’ve seen a property that is habitable but needs significant internal updating and refurbishment. It also needs some exterior work on the roof and chimney. My hubby and I have our house on the market and when we have released our equity from the sale we want to buy this property, live in it while we renovate, move out and then run it as a managed holiday let. It is in a little seaside village in the north of Scotland so is not a good prospect as a BTL but there is a good (shortish) holiday season. The primary aim is
  15. I read this today, been aware of this rise in demand the last couple months. "Mortgage brokers are being warned that they could be struck off lending panels if they are complicit in providing buy-to-let loans on properties that are being used for holiday lets. Following recent changes to landlord taxation, there has been a surge in lettings through the holiday let rental market using websites like Airbnb and Gumtree. The fall in the pound post the Brexit vote is persuading thousands of Britons and foreign visitors to seek short-stay accommodation in the UK.
  16. I'm thinking of buying a holiday let through a limited company, but would probably want to stay there a few weeks per year myself with family. Can anyone tell me pls about the benefit in kind tax implications of doing this? I am not an employee of the company and nor is any family member, but we draw dividends. I'm thinking that if I have to pay rent to the company to stay there that's not so bad - moving money around - or is there another (legal) way to stay for just a holiday? I should imagine a few trips there for maintenance are justifiable? Many
  17. Hi, Could anyone provide some insight into what type of mortgage you would need to purchase a property that you plan on letting as a serviced apartment on sites like Airbnb? From the people I've spoken to regarding this, lenders seem to dislike this so many of them don't notify them. Cheers, Luis
  18. Just wanted to introduce myself, having stumbled across Rob n Robs fantastic Property Podcast and subsequently ending up on this forum... So, a bit about myself... Recently found myself at a crossroads in life and recent events have prompted me to look at life in a totally different way. Always fancied the idea of a property in the Lake District (Cumbria), which myself, family and friends can get the benefit from, whilst also renting it out to cover the funding of the mortgage etc. And so began my research into the area. Due to the increased property prices in Cumbria, I brought my sea
  19. Hi, I'm Maureen. My husband and I have always been interested in property and have tried to make our debt work for us ever since my husband bought his first flat in Leicester that we still own and have used to buy other properties twice over. I have just started reading books about property investment even though we already own 3 properties and are in the process of buying our 4th. We just love property and never really thought that this could lead to something more than just a small income on the side or maybe a pension someday. We recently released the equity in our house to buy
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