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Holiday home as an investment
Comments
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We run a B&B and we're considering buying a local holiday flat to let out. However it proved difficult to get a mortgage as this flat has a 2 month restriction where is has to be empty - we were only allowed to occupy for 10 months of the year. Most mortgage lenders said no and I believe it is difficult to remove the restriction.0
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If it's on a park (like the one on the link) then I suspect they will shut the site for two weeks in the winter to enforce the restriction. I think the restriction is to prevent Council Tax / business rates issues but I may be wrong. Either way I suspect you won't be able to remove it.0
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No it's not in a park just a group of 8 individually owned homes with no management company involvement. Freehold also which I believe helps.
Thanks for all your help and info, I'll double check the vacancy period Monday.0 -
There doesn't appear to be a stipulation regarding a particular length of time which the property is required to be vacant!0
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