UK holiday rental

[beadyboo]

After years of over paying our mortgage we are almost in a position to pay it off.
We have gone on holiday to the same UK seaside destination for years and have often dreamed of eventually retiring there. Our pensions aren’t brilliant and we’d love to buy a property now to let as a holiday let as an investment but to have a week or two per year there ourselves. Has anyone any experience of this? Are we just too late to the party? Would we need to have a buy to let mortgage?
I think this may be some romantic pipe dream and I’m missing some huge stumbling blocks, but the fact that we soon won’t have our own monthly mortgage payments means it feels like a possibility.

Unless you repay the rental mortgage, you'll have to give it up at a certain point. There's not much income then, plus a CGT bill (although a lower rate if qualifying). Can you afford a repayment mortgage on the property? That would secure it for the longer term.

If you take on another mortgage, are you ready to run a business? Are you happy to have all your assets in property?

Personally the cost of a holiday home, remotely held would seem far higher than renting somewhere for a couple of weeks. Margins on holiday places tend to be quite tight.