Donnette

Investing in property is on the increase and in particular the buying of property as holiday home letting, however while it can be a huge success there is much to know when it comes to holiday home letting one of the most important factors is getting the correct holiday home mortgage advice.

Buy to let properties and holiday homes fall into different categories and the holiday let can give you some very valuable tax advantages. One of these is capitol gains tax on profits along with claiming more rent to reduce the amount of income tax that you pay. When you take into consideration that some properties increase in value by around 25% in just a 12 month period then you can see that this could be a great boost.

When it comes to buying property with the intention of letting it as a holiday home then the locations for the property are limitless - dont think that the property has to be in a seaside town. While a great many people do like to be beside the sea there are many other options available with the countryside being a very popular option for many. Along with this take into account places where they hold huge festivals such as Edinburgh - thousands of people gather at these events and of course they need somewhere to stay.

Once you have chosen your location and property, then you are going to have to give it some thought as to how you are going to get the best holiday home mortgage advice. One of the easiest options is to go with a specialist broker. A specialist broker knows the ins and outs of what is involved in holiday home mortgage and after sitting down and discussing what it is your are looking for can then do all the hard work for you of shopping around for the best deal.

You will also need to think about taking out the correct insurance for the holiday home and here again a specialist will be able to give you the best advice. Insurance for the holiday home just like the mortgage is different than the insurance you take on your home; with a holiday home you have more responsibility and as such need to have insurance for a wider range of factors.

Insurance that you need to take and which should be classed as essential include building and contents cover, public and employee liability, loss of rental income, cancellation and personal accident insurance.

Sean Horton is a Director of Holiday Home Mortgages, which offers UK residents the finance to buy a UK based holiday home. The site offer a Free Guide for Holiday Home Mortgages and also offer Holiday Home Contents Insurance