Has the post-lockdown staycation boom inspired you to invest in a holiday let property?
Grant Seaton, Senior Business Lending Manager at The Cumberland runs us through the key factors you need to consider when seeking and applying for a holiday let mortgage.
Embarking on a new holiday let business, or developing and growing an existing business might seem like a risky endeavour in recent months. Even as the government’s roadmap for re-opening the country after the Covid-19 pandemic continues, small business owners will be naturally cautious. However, some existing UK holiday let owners are experiencing record levels of interest and bookings, largely due to an increased desire among the public for staycations and self-contained, self-catering accommodation. There are key considerations for ensuring that you can make the most of this trend, explore new demographics and visitor concerns, to help to build a sustainable and successful holiday lets business, now and into the future.
Diane and Andrew Howarth owners and operators of Cottage in the Dales - three Grade II listed luxury holiday cottages located in the scenic Yorkshire Dales National Park, offering a ‘Distinctly Dales’ experience to visitors.
Our panel of experts look at how the county’s crucially important tourism sector will respond to the challenges of 2021.
You can stay in your holiday let property with friends and family, but you do need to be mindful of some limits set out by the HMRC and requirements from your lender. Here we outline the top considerations.
What do you need to know before buying your holiday let?
Get the lowdown from two holiday let property experts with a combined 20+ years of industry experience.
We asked Colin Johnson, Leisure and Tourism specialist at MHA Moore & Smalley, to highlight the key tax information you need to know if you’re running, or considering running, a holiday let business.
Our commercial lending division are poised for growth, with the appointment of Scott McKerracher as Head of Commercial.