So, are you thinking of jumping on the second home bandwagon? Whether it’s switching an existing let property from a long-term rental to capitalise on the more lucrative short-stay market, or buying a second property or even adding to their portfolio, there is a boom in UK buy-to-let and second home property purchases happening right now.
Mortgages
Three in five first-time buyers depend on the bank of mum and dad in order to get onto the property ladder, according to research by Just Group. In the last five years, 61 per cent of FTBs relied on financial help from relatives in order to purchase a property. In comparison, just 20 per cent of FTBs relied on financial assistance from relatives 30 years ago.
