14 Jan 2014 4:16 PM:

You can claim back tax on any losses you make on a holiday let, because  my rental income doesnt cover my mortgage I can declare a loss. It does need to be rented it out for a minimum number of weeks which I think is 15.

 

Thread: Long term let or holiday let

--------------------------------------

14 Jan 2014 2:51 PM:

Hi Randolph

Thanks for the reply

Which ever route we went down I think the costs would more or less be the same e.g. community charges

Thread: Long term let or holiday let

--------------------------------------

14 Jan 2014 2:18 PM:

Hi Everyone

I have a property in Spain which I rent out on a long term let of 450 euros, but this means we cant use the property for holidays. I have put some figures together and wanted to see if you think it makes sense to rent it as a holiday let.

Current income on long term let

450 euros a month = 5400 euros a year 
Annual payment to management company of 400 euros 
So annual income of 5000 euros if no other expenses are incurred.

Workings for Holiday let

Rented for 15 weeks a year at an average of 240 euros (after cleaning costs) = 3600
Tax rebate for holiday let of 1440 euros a year
I have found a management company who will not charge a holding fee for key
So annual income of 5040 euros if no other expenses are incurred.

In the summer months the property will rent for around £350 a month and in the winter around £200 a month.

Do the above figures seem realistic ? Do you think I could rent for more than 15 weeks a year?

Thread: Long term let or holiday let

--------------------------------------

10 Jul 2012 11:47 PM:

Hi, have found this post which has been really interesting I am with CAM bank and my interest rate is changed yearly in June, I was expecting it to go down and it has gone up by .25%.

I have had the mortgage since 2005 and the lowest rate I have had is 3.25% I am trying to work out how this rate is calculated and am struggling I am going to phone CAM but have found this code against my rate I-VBLE.FIJO.INI does anyone know what this means.

 

Also anyone contacted CAM about removing the floor rate? if so how did you get on?

Thread: COLLAR ON MORTGAGE VOID

--------------------------------------