A holiday let mortgage is a form of investment mortgage that allows you to purchase a property to let out to tourists and holiday makers on a short-term basis. You cannot take out a buy to let mortgage and then let the property out as a short-term holiday let. Also, if you don’t wish to let out your holiday home and want to stay there yourself then you will need a mortgage for a second home and not a holiday let mortgage.
For a property to qualify as a holiday let for tax purposes, it must be furnished and be available for let for at least 210 days a year. That means that you could potentially use it yourself for up to 22 weeks every year. The main tax advantages of holiday lets, compared to buy to let properties is that you can still deduct mortgage interest payments from rental income to reduce your profits and therefore your tax liability.
ANY PROPERTY USED AS SECURITY, INCLUDING YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. COMMERCIAL MORTGAGES ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY OR THE PRUDENTIAL REGULATION AUTHORITY.
FFP SolutionsOld Bank Chambers, High Street,St Asaph, LL17 0RD
Registered in England and Wales Company No. 08958626, Registered Address: Unit 32 Llys Edmund Prys, St. Asaph, Denbighshire, LL17 0JAFFP Solutions Ltd is a credit broker and not a lender and is entered on the FCA register under reference 624257You can find FFP Solutions on the Data protection public register under reference: ZA056605
YOUR HOME OR YOUR COMMERCIAL PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
THE GUIDANCE PROVIDED WITHIN THIS WEBSITE IS SUBJECT TO THE UK REGULATORY REGIME AND IS THEREFORE PRIMARILY TARGETED AT CONSUMERS IN THE UK
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