Realise your holiday home dream through clever financing
Holiday homes are fast becoming the must have asset of the millennium, however for homeowners, raising the capital necessary to buy into that dream could be much easier than you’d think.
A recent survey conducted by an independent investment expert has discovered that UK homeowners have the ability to save around £3’500 year on year through clever remortgaging.
The mortgage and home loans market has witnessed huge change over the last decade or so, with some of the more notable advancements being the speed in which a new mortgage (or remortgage) deal can be agreed, and also the speed in which competitive products can be found.
One expert has suggested that if a homeowner were to switch his or her mortgage agreement from a variable to a fixed rate product, they could potentially save around 25% on monthly repayments, which would free up a sizeable amount of cash over the course of a year. Now if that same homeowner were to consider ploughing said savings into a holiday home, in a destination like Bulgaria for example, it would be possible to raise between 15-20% of the properties value in less than 2 years.
The more savvy investor will also tell you that returns on properties in a place like Bulgaria are likely to be huge over the next few years. Other parts of Europe have also become exceptionally attractive to British property investors due to changes in the economy, and armed with the right information owning a slice of the action may also be within you reach.
The information contained in this article does not constitute as professional advice. You should not rely on information contained in this article to make or refrain from making decisions on a mortgage or any other type of financial product. The article has been written for general informative purposes only.
