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 dont 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 isnt available for let or if you use it yourself then you wont 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....
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