more help with buying to holiday let

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I was really interested in the article in Septembers mag about holiday letting, so much so that I had to get up at 2 in the morning and write this! I have one house which I rent out as holiday lets and another that I am living in which I was about to put on the market. Since reading the article I am wondering why I don't borrow on the house and also put it up for holiday lets as I can offset losses against other income. My question is, even tho I am going about it a long way, where can I find someone who REALLY knows their stuff about this, I don't think my accountant has a clue as it has never been mentioned to me before. Also, should it be relatively easy to raise a fair bit of money on the property in order to invest it in somewhere to live myself, would it still be classed as a buy to let and what sort of evidence of rental income would be required by the morgage company? A lot of questions I know and it is still only 2.30 a.m! Glad of any advice anyone can offer about any of the above isues.
18/09/2006 00:00

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