To overpay mortgage or to buy a holiday home

Totally agree with this.

I don't think the brink of WW3 is the best time to commit to somewhere requiring flights.

https://www.reuters.com/business/energy/oil-prices-rise-iran-israel-conflict-fans-supply-worries-2025-06-17/

I am in scotland and we have reached the stage where the eviction has been granted as of last week, but he still gets 30days to appeal. we dont expect him to appeal. we have not spent a penny yet but he still owes us 6k rent so we will chase it. the eviction itself should not cost that much even in england. luckily, my dson is able to do the eviction so that wont cost us anything. but even then, -in scotland, the eviction itself would only cost 2 - 3 hundred

I'd only buy a holiday home in Spain if you're intending to move over full time which is harder to do post Brexit. We did this 20 odd years ago and lived there for a decade. When we came back we sold the house as we couldn't justify the upkeep and having that money tied up abroad. We still spend around 3 months a year there but now rent for those periods as it's pretty hassle free, especially when you know the area. I still see places I'm tempted by but I come to my senses when I think of all bureaucracy involved now.

Even if you do decide to buy definitely do a long term rental in your chosen area first to make sure that's really where you want to be.

I have a holiday home in france. I don't let it out to strangers but have family and friends stay.

It was very cheap and the process of buying and maintaining it was a million times easier than the UK. My children go for 6 weeks every summer and come home all tanned and speaking French.

I would highly recommend a holiday home!

Holiday homes are pretty unethical.

We inherited a holiday home in Spain and I would never recommend buying a holiday home abroad to anyone. That goes double if you are not fluent in the language and don't have friends or family there that can help you. The red tape and bureaucracy is horrendous - and don't even ask about the inheritance process when you don't live there.

Pay off your mortgage and enjoy all the extra money by going on holiday all over the world.

DH and I have looked into buying abroad so many times in some detail. It always comes back to it being a real costly headache logistically.

On the other hand, we have had second homes in the uk for many years and love them. We have never rented them out.

First one was 2.5 hours away - that was too far on a Friday with small children so changed to one 1hr 20 away.

Before anyone is upset by second homes, the one I have had for the last 20 years is a designated holiday home and can't be used as a permanent address (can't vote, can't send children to local schools etc)

I'm just selling my buy to lets. Too much responsibility for the return for me and will not get worse imo

Pay off your mortgage first though.

Holiday home turnaround is costly though if you are thinking of that and the cleaners really need to be reliable. I had a friend who did her own and she spent so much time driving, washing sheets, cleaning etc.

I think you'll find a lot of people in tourist areas of the UK would agree too.

Houses become too expensive, locals can't compete in the market, then there's issues trying to get staff in the local shops because nobody lives in the area. It becomes a vicious circle. And it affects the local community too.

However.i can't see second home ownership ever being banned. How many MPs will have multiple properties?

This is horrible! Thank you for posting it.

Pay off mortgage. Holiday home in the UK - somewhere popular like windermere where holiday lets would be possible.

Pay off your mortgage earlier. Holiday homes, especially abroad, are a nightmare, unless you are planning a permanent move there. Legalities, expenses, all an absolute pain.

Why would you want to go on the same holiday for the rest of your life? And maintain a property all year round to live in a few weeks a year?

It seems like you and your DH are completely at odds- he wants to secure your stability in your current home and/or use your savings to generate more financial freedom in the future.

You want to expand your current lifestyle now and risk sacrificing future financial security.

I'm with DH.

We have been away with friends twice to their holiday home. The first time they spent all day trying to find a plumber for a repair, the second time it was the same with an electrician. Other friends have a holiday property they rent out when they are not using. They have ended up only going in the off season and have to spend the whole time doing maintenance.

For me I find a holiday is often the only time I can truly relax as I don't have any jobs that need doing. If I owned the property then I would probably constantly find things that need doing and cleaning - no thanks.

Don't buy one of these whatever you do.

https://www.bbc.co.uk/news/articles/c2016lxnepno

Go holiday home! Why not? Residents in those areas & counties where everyone wants a place but can't be arsed to live & contribute LOVE that shit. And it doesn't affect housing stock or long term lets or, like anything.

Agree with ur DH, pay off the mortgage before even considering a holiday home.

Depends on your circs but assuming you're not planning to retire imminently, I'd buy equities. If you don't fancy that, overpay the mortgage.

Only circs in which I'd buy the holiday home is if that was your joint dream and you had your eyes open about the fact that it's unlikely to be a good idea financially.

A lot of people buy holiday homes in beautiful locations and then don't go. I imagine it, becomes like a gym membership you're not using, just living with constant guilt for not using it. Then you are liable for capital gains tax and double council tax.

Second homers arnt particularly welcome either as people see homes go empty, when locals cant rent/buy there.

I wouldn't do buy to let either for many reasons, but in short it's not worth it.

Meant to quote you above.

This is our plan

Don't do it! So many dodgy building schemes of places in Spain - and such a hassle to sell when you want rid. Quite sure it'd be cheaper to throw money at a load of holidays

(bad experience getting shot of inherited property, took almost 9 years. )

I’d also overpay the mortgage. We considered a HH a couple of years ago (in a UK town which we love) but decided against it. Partly it was because of the impact of 2nd homes and partly the hassle factor.

Btl in the UK isn’t worth it anymore. That’s why lots of landlords are selling up. We did. I wouldn’t buy in Spain in the current climate - but I’m other countries are happier to receive your money!

A holiday home in another country will require a maintenance company, two lots of possessions, regular flights, two lots of utility bills &housing taxes and the extra costs of travel, which will all strain your budget if you are paying a mortgage at home.

If you pay a large chunk off your existing mortgage, you will have lower payments that will allow you to travel as you please but also to retire earlier. It also protects you against any future change in income.