Owning two houses

JIL

I live with my husband, a couple of times a month I work away from home and stay in a part of the country I and my husband really like. We have talked about moving there permanently, but it is not feasible at present.
We have some savings, and a small outstanding mortgage on our current home. Which is worth about £160,000.
We have been thinking about buying another house in the other part of the country, where I would stay when I work there and we could also spend weekends there.
I would not want to rent it out, although I would be happy for friends and family to use it if they wished.
The property would cost about £160,000 we would mortgage it to about £80,000. We would hope to pay this off within the next eight years then when we retire we would make a decision as to keep either house or neither or sail off into the sunset.
What additional extras apart from council tax, utility bills etc, would I need to factor in?
Would there be a tax requirement to pay?
Is this just an unachievable dream?
Any thoughts or advice greatly received.
Thanks

eddddy

It might be easier to remortgage your main/current home to raise the £80k, and then buy the second home for cash.

Second home mortgages can be harder to get, and are often more expensive than 'main home' mortgages.

And if it's not mortgaged, you'll have more freedom to rent it out etc - if you later decide to do so.

Cheeky_Monkey

You will have to pay the extra 3% stamp duty

G_M

2nd properties attract an additional 3% SDLT on purchase.

Insurance on 2nd homes is pricier (as not permenantly occupied)

Capital Gains Tax might be an issue if/when you sell it as it won't be your main home, but if you move there on retirement tha would not apply.

If you rent it to friends/family, the rent would attract income tax + other landlord obligations, but if they just stay there as guests that's no problem.