Getting Holiday Buy To Let Loans
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Sean Horton
Apr 27, 2013, 4:20:04 AM4/27/13
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Sean Horton
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Article Title: Getting Holiday Buy To Let Loans
Author: Sean Horton
Word Count: 443
Article URL: http://www.isnare.com/?aid=171872&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=171872
Easy Publish Tool: http://www.isnare.com/html.php?aid=171872
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When it comes to getting a holiday buy to let loan then the first thing you have to make sure of is that the property you are buying as a holiday let meets the requirements to be classed as a holiday let. When it comes down to getting your mortgage then you are either looking for one for a holiday let or a holiday home, there is a difference.
The property will be classed as a business if it meets the rules set out for a holiday let. Any renting that you take for the property have to be made at full rental cost, this means that any freebies and half price renting to family and friends don�t count. The property that you are renting as a holiday home must be fully furnished and the property must be available for letting for 140 days out of the year and you must actual let it for 70 days. You cannot have someone rent the property for longer than a period of 31 days during 7 months and when the property isn�t available for let or if you use it yourself then you won�t qualify for the tax breaks linked to the holiday let.
Once you have met these rules then you will be looking for a holiday buy to let loan and this can be the hardest part of the venture you are undertaking. Unless you know something about finance then you would be wise to take on the advice of a specialist broker, when it comes to holiday buy to loans a broker has the knowledge and the resources that can ensure you get the best deal on your holiday let loan.
There is much to know about holiday buy to let loans and lenders who are going to take the gamble of loaning you the money are going to want to make sure they are backing a winning venture. The majority of them will ask that you expect to make at least 130% of the mortgage from renting the property and you will of course have to put up a deposit which can be anywhere in the region of 15% to 30% of the cost. Of course if you have gone with a broker then they will do the looking around for you and secure the best deal possible.
Holiday buy to let loans can be a nightmare and one of the hardest parts of your new venture but it doesn�t have to spoil your dreams, a broker can make all the difference and could save you thousands in the long run by avoiding a costly mistake.
About The Author: Sean Horton is a Director of Enhanced Wealth (http://www.enhancedwealth.co.uk) which offers UK residents the finance to buy a UK based holiday home. The site offers a Free Guide to download for Holiday Home Mortgages and the process for buying a UK Holiday Home
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=171872
*********************** ARTICLE END ***********************
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Message delivered directly to members of the group:
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*****************************************************************
Please consider this free-reprint article written by:
Sean Horton
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=171872
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=171872
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: Getting Holiday Buy To Let Loans
Author: Sean Horton
Word Count: 443
Article URL: http://www.isnare.com/?aid=171872&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=171872
Easy Publish Tool: http://www.isnare.com/html.php?aid=171872
*********************** ARTICLE START ***********************
When it comes to getting a holiday buy to let loan then the first thing you have to make sure of is that the property you are buying as a holiday let meets the requirements to be classed as a holiday let. When it comes down to getting your mortgage then you are either looking for one for a holiday let or a holiday home, there is a difference.
The property will be classed as a business if it meets the rules set out for a holiday let. Any renting that you take for the property have to be made at full rental cost, this means that any freebies and half price renting to family and friends don�t count. The property that you are renting as a holiday home must be fully furnished and the property must be available for letting for 140 days out of the year and you must actual let it for 70 days. You cannot have someone rent the property for longer than a period of 31 days during 7 months and when the property isn�t available for let or if you use it yourself then you won�t qualify for the tax breaks linked to the holiday let.
Once you have met these rules then you will be looking for a holiday buy to let loan and this can be the hardest part of the venture you are undertaking. Unless you know something about finance then you would be wise to take on the advice of a specialist broker, when it comes to holiday buy to loans a broker has the knowledge and the resources that can ensure you get the best deal on your holiday let loan.
There is much to know about holiday buy to let loans and lenders who are going to take the gamble of loaning you the money are going to want to make sure they are backing a winning venture. The majority of them will ask that you expect to make at least 130% of the mortgage from renting the property and you will of course have to put up a deposit which can be anywhere in the region of 15% to 30% of the cost. Of course if you have gone with a broker then they will do the looking around for you and secure the best deal possible.
Holiday buy to let loans can be a nightmare and one of the hardest parts of your new venture but it doesn�t have to spoil your dreams, a broker can make all the difference and could save you thousands in the long run by avoiding a costly mistake.
About The Author: Sean Horton is a Director of Enhanced Wealth (http://www.enhancedwealth.co.uk) which offers UK residents the finance to buy a UK based holiday home. The site offers a Free Guide to download for Holiday Home Mortgages and the process for buying a UK Holiday Home
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=171872
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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