Is now a good time to invest in a second/holiday home?

[kwaker5]

Just wondered whether if mortgages are cheap (if you can get one) and savings/stock market is rubbish, is now a good time to buy a holiday home?

Would only be prepared to borrow what we thought we could cover with minimal lets. Don't want to rely on the rental income too much incase it tails off.

Have you checked out the area you're interested in to see what's on the market?

Is it for the family to use as well as renting out? Remember that you will either have to be close enough to do the cleaning/maintenance yourself or employ a firm near the property to sort all that sort of stuff out. Think they charge around 15/20% of the rental income to manage the property, plus the repairs, etc.

Don't forget you've got Council tax/water, etc., on top of the mortgage payments.

is it a good time to buy - who knows! If you are intending to hold onto it for a good few years and are not breaking the bank in the meantime to buy it then you should be ok - eventually.