What return do you get (or would you need) on a holiday home/BTL?

[Mordac]

We have a holiday let in Edinburgh. I'd say half our income goes on expenses. If your costs are covered by half your income, go for it.

I'd consider a 'up and coming area' rather than a overpriced market myself.

You mean people actually go on holiday to Edinburgh? Bloody hell, maybe that secure chalet in Guantanamo wasn't such a bad deal after all...

[scooterscot]

You mean people actually go on holiday to Edinburgh? Bloody hell, maybe that secure chalet in Guantanamo wasn't such a bad deal after all...

It's full of English people too. I had to get out.

[Mordac]

It's full of English people too. I had to get out.

You must really hate the English if you chose Munich over some of the sunnier options. Nothing against Munich mind, I can't speak highly enough, but when it snows, jeez it snows. We get a couple of inches and everything grinds to a halt. Munich gets 3 or 4 feet, and by morning you'd struggle to find a road or pavement which hasn't been cleared. My flight home was slightly delayed, but that turned out to be because there had been a mild frost at LHR.

[MrMarkyMark]

It's full of English people too. I had to get out.

Lots of English on here, how about applying the same rules

[bobspud]

Can plebs afford £700+/week? That's what a 2-bed flat goes for here!

They don't seem to have a problem from what I can see...

I would agree with the 1200 - 1700 mark being the good stuff

[LondonManc]

HMRC currently treats BTLs as an investment and holiday lets as a business. THis will show up in the coming years as the interest on BTL mortgages is gradually disallowed as a business expense (we BTL landlords are all tax cheats, you see ).

If you are going to holiday let, or use the property as Serviced Accommodation (also A Real Business) be sure to finance it with a 'proper' commercial mortgage, not a BTL one.

So if you buy a flat in Leeds, it's a BTL but the same in Torquay equals a holiday let?

[scooterscot]

You must really hate the English if you chose Munich

It was a joke I've absolutely nothing against people from England. But that's the stereotype expected of me and trying to change that is like skiing up hill. Pointless and a waste of energy.

I rather like all the snow in Munich. Saying that, this was Edinburgh a few years ago:

[scooterscot]

Lots of English on here, how about applying the same rules

Personal hygiene not much of a problem here.

[LondonManc]

Personal hygiene not much of a problem here.

But the Germans are as clean as the English. The crackden that is Edinburgh? Only the cold stopping the stench while the 5 million litres of vegetable fat stops Glasgae reeking of BO and Buckies

[scooterscot]

But the Germans are as clean as the English.

Certainly less blubber. People actually exercise.