HOLIDAY HOMES / 2nd PROPERTIES / DEPENDENT RELATIVE / SOLE OWNER JOINT LIABILITY
The title is a mindful. To put it simply; ‘Do you require another property?’ Maybe you want a holiday home? We have all seen ‘Escape to the Country’ on the telly. We have seen the cottage overlooking the harbour and dreamt of Saturday morning Coffee admiring the view. Equally, you may have a relative that needs accommodation and you want to help. Maybe it is student accommodation or for an elderly relative. We have lenders who want to help; whether it is an increase on the current mortgage, a mortgage on the new property or a combination of the two; we can help you live the dream. In some cases, we can arrange a mortgage, subject to status, where the mortgage liability is shared between two parties with ownership in one name. This can help save on stamp duty and where main residence on capital gains tax. The market in this sector has become more focused with more lenders entering.