If you’ve been wistfully dreaming of buying a holiday home but find yourself scratching your head over how to fund this little adventure, there are a number of options you can explore.
Got a stash of savings burning a hole in your bank account? If you have the cash all saved up and ready to go, this is the quickest and easiest way to get your holiday home ownership adventure underway. As soon as the funds are transferred to Haulfryn we’ll spring into action. Once all the paperwork is signed and sealed we’ll whisk you off to ownership bliss in a jiffy.
If the magic money tree isn’t an option for you, how about spreading the cost? A personal loan from your chosen finance provider could be your golden ticket. Or talk to us about our finance options with Orchard Funding. They specialise in holiday home finance in the UK and their funding could allow you to pay for your chosen caravan or lodge bit by bit (Representative 12.9% APR), subject to approval. The application process is a breeze and is something that we can do whilst you are visiting your chosen park, or over the phone. Typically we can give you a decision on the very same day, so you will know if this is an option for you.
If you are a homeowner you may be able to sneak a hand into the piggy bank of your house by releasing funds through remortgaging. And for those fabulous folks who are over 55, it could be an option to take an early dip into your pension pot to fund the purchase of your holiday home.
The first 25% of your pension can be taken tax free, but you will need to check that your scheme allows you early access to the funds. Should you need to access more than 25% it will be counted towards your annual income, so you just need to be aware that it could push you into a higher tax bracket.
Whether you are looking at borrowing, remortgaging or pension release as a method of paying for your holiday home we advise that you speak to a financial advisor before making any decisions to ensure that you understand the full implications.
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