 Developing
a holiday let
If you are looking to develop a property
into a holiday let then we have finance
solutions available for you.
Many people will buy a holiday let
property just to use for their own use with
the occasional let. Others will look to
maximise their earnings with a holiday let
by letting it out almost constantly.
If you are a developer wanting to refurbish,
renovate or rebuild a property with a view to
setting up a holiday lettings business then give
us a call. This type of finance is typically
needed where the property in uninhabitable or
where the true value cannot be determined due to
condition.
Initial finance to purchase
the property
This will generally be a commercial loan
where the lender can see the potential of the
property and the final value after improvements.
We can offer finance packages for this type of
development which also includes the more unusual
properties such as farms, lighthouses and
castles. Interest only options and deferred
interest payments are available.
Remortgage after the works
are complete
Commercial finance is still slightly dearer
that holiday let mortgage finance. So, after you
have developed your holiday let why not let us
refinance it onto cheaper terms? This will
obviously depend on the type of property,
location and usage but many investors are using
this 2 stage approach to holiday let
developments.
Please contact us
to discuss your holiday let development ideas.
Enhanced
Wealth Limited is a full member of the National Association of
Commercial Finance Brokers (NACFB)
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