Holiday let mortgages are for those who plan on purchasing a holiday home that would be rented out to tourists and visitors.
This is different to a second home you would use solely for yourself.
This can allow you to have a useable second property that could be used as a cash stream when not occupied. As it is a holiday let, you can potentially rent out one for a lot more money than a normal rental property due to the holiday seasons.
Furnished holiday lets are also treated differently by taxes. They are classed as a business meaning you can still claim tax relief on the mortgage interest. For it to count as a holiday let, the furnished accommodation must be available to rent for at least 210 days a year.
*We’re unable to provide tax advice. We would always suggest you seek independent advice
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