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Found 7 results

  1. WOW do I need this website and forum! Talk about venturing into the unknown.... scared and excited....... We (husband and I) are looking 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 funds to purchase a holiday let. However, I am told that I can’t then offset the interest against the holiday let - is this correct. What are any other pitfalls of this approach?? Option 2: Secure a holiday let mortgage and raise the funds to put down a deposit (savings topped up with a possible bank loan). I understand that the interest on the mortgage could then be offset against the holiday let income. The benefits I believe it that our residential property remains safe, mortgage interest can be offset. Downfalls are that the interest rate will be higher and we have to meet criteria on holiday let to be accepted for a holiday let mortgage. So if anyone can advise on this that would be great as I seem to be getting myself stuck in a rut trying to find this out. Then, I belive, and again, please advise, we can purchase the property in joint names (myself and husband) but apportion the income as we require as one is on a higher tax code and the other a basic tax code??? Does this sound right? Also, if any one has any recommendations for a property accountant that too would be great. There’s a wealth of knowledge out there and I’d really love to learn from those who have been and done it with the hope that I can offer some guidance back to others once I’ve gone through it myself
  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 months and during the week year round, does anyone have experience doing a similar thing in the area? I was also thinking Port Talbot might be a safer option as it’s still close to Afan but has the additional advantage of being a larger town with the beach and promenade with good Buy To Let fundamentals, meaning it could provide a plan B option if the bookings aren’t steady enough? Any insights, recommendations, or thoughts are welcomed! Thank you, Ryan
  3. Fairly new to the UK, I’ve been listening to Property Hub’s Property Podcasts for the past 18 months or so. I’m a few weeks away from completing on a first property for me and my family to live in (which will enable me to access BTL products going forward). There’s been much talk, and I saw an article yesterday suggesting a stamp duty holiday soon, potentially (https://www.thesun.co.uk/news/12027543/rishi-sunak-stamp-duty-holiday-new-buyers/). Unsure whether the holiday will apply to everyone or not, worth noting is that I owned property previously (not in UK), so would not qualify if the holiday was only for first time buyers. Assuming I delayed completion and qualified for the stamp duty holiday, the amount in question represents a substantial portion towards a deposit for a BTL property. The impact is substantial! In short – do I delay completion and wait for the stamp duty holiday (so enabling me to purchase a BTL property), or watch a substantial chunk of money disappear into the ether?
  4. Fairly new to the UK, I’ve been listening to Property Hub’s Property Podcasts for the past 18 months or so. I’m a few weeks away from completing on a first property for me and my family to live in (which will enable me to access BTL products going forward). There’s been much talk, and I saw an article yesterday suggesting a stamp duty holiday soon, potentially (https://www.thesun.co.uk/news/12027543/rishi-sunak-stamp-duty-holiday-new-buyers/). Unsure whether the holiday will apply to everyone or not, worth noting is that I owned property previously (not in UK), so would not qualify if the holiday was only for first time buyers. Assuming I delayed completion and qualified for the stamp duty holiday, the amount in question represents a substantial portion towards a deposit for a BTL property. The impact is substantial! In short – do I delay completion and wait for the stamp duty holiday (so enabling me to purchase a BTL property), or watch a substantial chunk of money disappear into the ether?
  5. Hi I’m hoping someone can help me. My my wife and I are buying a second home - a flat in London. My wife works 3 days in london, 2 days at home. She wants to use the flat for 2 nights a week, every week. We intend to do AirBNB let’s for the remaining days. My question: can we achieve this through an SPV ltd company? Specifically, are there mortgage products that allow the mortgage to “holiday let/short term let” and use it regularly for themselves? (Tipton BS just launched such a product but they don’t lend to ltd companies). Are there issues with the limited company allowing directors to reside? Can it be free or would a charge have to be made? Tax issues associated with this? We are also about to embark on becoming a landlord ourselves and are looking to purchase a number of properties through an SPV ltd company. Please note: We are aware of the 90 day holiday let restriction in London, and also the caveats to ensuring landlord consent to sub let on this basis. with thanks in advance.
  6. Hi there My family and I are visiting Lisbon next month. Has anyone got any recommendations for places to eat and things to do? Any other top tips? Many thanks Jonathan
  7. What are peoples thoughts towards holiday lets as a property investment ? I have always fancied the idea of owning a holiday apartment for my family and close friends to benefit from. And also like the idea of letting the property out when I am not using it... I will hopefully soon be in a position to progress with this idea, as I have found a suitable property that is ideal for myself and family, but will also give me a 6% yield in holiday rental... Would be interested to hear if anyone else has a holiday let as part of their portfolio and how successful you have found it to be as an investment ?
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