Call now on

01244 356666

Or complete the form for a
FREE owner information pack

I am *

Holiday let mortgages

If you're considering letting a holiday property and need a mortgage to pay for it, but you're not quite sure where to start then speak with our property specialists today, they'd be happy to offer their knowledge and point you in the right direction.

With over 25 years' experience in the industry, we've helped thousands of happy owners get their holiday let business off the ground and are on hand daily to give you expert advice and guidance on everything you need to know about letting a successful holiday property.

We'll also be able to provide you with a good idea on what you can expect to earn from your holiday let, so you can make sure you're getting the best out of it, as well as offering all the support and advice needed for mortgage applications. Get in touch today and speak to our property experts for free advice.

Advice on buying a holiday let

With our wealth of knowledge and years of experience in the holiday letting market, we can support you in making the perfect investment, but whatever stage you're at, we can help. You could have seen a property online but aren't sure if it will work as a holiday let - we'd love to have a look at it with you and give you an idea of its potential. Or you may just be thinking about holiday letting and need to understand how to approach it - our experience will help give you confidence in the decision you make.

For expert advice on buying a holiday let, contact our friendly property specialists; they're here to help you make the right choices.

Do we need a specific holiday let mortgage? What is the difference between a buy-to-let and a holiday let mortgage?

Wondering if you need a mortgage specifically for letting a holiday property? The quick answer to this question is yes. A holiday let mortgage is designed specifically for properties that let for short periods of time, meaning they're often much more flexible when considering your property's income.

Over the years, we've helped thousands of owners set up their holiday home and we can give you all the support, guidance and knowledge you'll need.

If you have any questions and need any help or guidance then contact our property specialists, they're here to help. Over the years we have built up a strong understanding of what the requirements are in this area and are here to support you with your plans.

Can I offset my mortgage against holiday rental income for tax?

Can I offset my mortgage against holiday rental income for tax?

As a holiday let is classed as a property letting business, if you qualify under the Furnished Holiday Letting rules, you can currently offset the interest on your holiday let mortgage against the rental income you make for tax purposes.

So for example, if your holiday let made £12,000 in one year and the interest on your mortgage for that year was £9,000, you would only be liable to pay tax on the £3,000, according to your own tax rate.

However relatively recent changes to government legislation means that reforms to this system are due to be phased in from April 2017 and fully effective by 2020. Landlords and holiday let owners will no longer be able to deduct their mortgage interest from their rental income when determining the profit on which to pay tax.

Instead, the government will be applying a tax-credit equivalent of 20% to the mortgage interest. So you would pay your normal tax rate on the whole rental amount, minus the 20% credit on the mortgage interest.

Our property experts have the knowledge and experience to guide you seamlessly through this part of your holiday letting journey. Give them a call today for no-obligation advice.

Sources:
http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/11965438/Buy-to-let-tax-will-cut-our-income-by-25pc.-How-much-will-YOU-lose.html
http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/10946303/How-to-maximise-your-buy-to-let-profits-by-paying-less-tax.html
http://www.taxexpert.co.uk/services/taxation-services/property-tax/what-types-of-interest-can-be-offset-against-my-property-income/

Call now on

01244 356666

Or complete the form for a
FREE owner information pack

I am *

Get more with Sykes

See what your property could achieve

How much could you earn?

Number of bedrooms

Average potential earnings*

*Please note these are estimates based on historical booking data

Let's do this together

Pick up the phone or request one of our friendly property experts to call you back. We're on hand 7 days a week to offer you free advice on getting the best out of holiday letting. It's what we do.

Call now on

01244 356666

Or complete the form for a
FREE owner information pack

I am *

Contact us
NOW