Flexible overseas mortgage offers flexibility in the terms and conditions. The best thing about flexible mortgage is that it keeps the monthly repayment within the affordability of the borrower. Some of the important benefits offered by flexible mortgage are:
• the provision of making overpayments (more than the stipulated amount)
• the facility to redraw (borrow back) any previous overpayments
• permission to underpay (less than the usual amount)
• To enjoy a payment holiday (you can stop repayments for a certain period, typically 3 to 12 months.)
The rental income you can achieve on letting your holiday home is all about location and the type of property. Long term rentals can be heaven sent, having a person willing to rent on a long term basis will reduce the likelihood of having a bad tenant. It will also serve to reduce your stress in finding new people willing to rent your home. Best of all long term rentals are great for your financial planning. Short term rentals can be higher especially in holiday seasons. The perfect holiday home would be a property that was attractive to both types of tenants. Many city apartments are good examples of this and present a win win situation to the overseas property buyer. Areas in France, Spain and Portugal for example really lend themselves to both rental markets. Recently Bulgaria has attracted overseas property buyers who can let to both summer holidaymakers and to the winter skiing fraternity.
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