5 beautiful places to consider if you’re thinking about buying a holiday home in the UK

September 01, 2021

Travel restrictions this summer mean more Brits have been choosing to book a staycation. The UK is filled with stunning destinations to explore, and you may be thinking about buying your own holiday home to escape to in 2021 and beyond. But with so many locations to consider, where should you search for the ideal property? Here are just five options that are worth thinking about.

1. Lake District

The Lake District is one of the most popular places to have a break in the UK, and for good reason. It’s the ideal place to head if you want to get away from day-to-day stress and get back to nature. Its abundance of water sports to try your hand at means it’s a great place for families and those that like to get active too. As it’s a national park, there are restrictions in terms of housing so finding the ideal property could be a challenge if you have a clear idea about what you want. If you decide that the Lake District is the right place for you, there are lots of picturesque towns to consider.

2. Cornwall

If your idea of a perfect holiday is to relax on the beach, Cornwall might just be the place to purchase a second home. Of course, there are opportunities to get out on the water and surf too. The beach isn’t all Cornwall has to offer either; there are plenty of historic sites to visit, including the famous Tintagel Castle that’s linked to the legend of King Arthur. If you’re buying a property in Cornwall you can choose to be close to the coast, a bustling town centre, or a rural location. St Ives and Padstow are great options for holiday homes, but you will pay a premium for a property. Other options to consider include Looe, Praa Sands, and Fowey.

3. South Wales

South Wales boasts a stunning, rugged coastline, as well as beaches to explore, making it an excellent place for a holiday home. With miles of hiking trails to walk along, it’s perfect for families that like to enjoy the great outdoors. You also have the Wye Valley, an Area of Outstanding National Beauty, as well as Cardiff, offering the best of both urban and rural places to visit. Average house prices in South Wales have exceeded national growth in the last year but are still priced below the national average, so you could get more for your money here.

4. London

If you prefer the hustle and bustle of city life, London has a lot to offer. From shopping to the theatre and plenty of museums, London has enough attractions to keep you entertained, however often you visit your holiday home. If you want to escape for the day, there are lots of day trips options too, including Bath, The New Forest, and Oxford. Of course, choosing a holiday home in the capital comes with a price tag. The average home in London is over £500,000.

5. The Scottish Highlands

If you really want to escape from a hectic schedule and urban life, the Scottish Highlands is ideal. From the mountains to the sea, you’ll be surrounded by beautiful landscapes and stunning castles. If you enjoy the outdoors and nature, there are lots of remote locations to choose from. But, if you prefer to have the amenities of a town or city, you’re also spoilt for choices, from Inverness to Fort William. There’s a huge range of properties to suit all needs too.

What you need to know if you need a mortgage for a holiday home purchase

If you’ll need to take out a mortgage to purchase a holiday home, the basics work in the same way as a traditional mortgage. However, there are a few key differences to keep in mind:

  • You will usually need a deposit of at least 20% for a second mortgage. The more you can put down, the more competitive the deals you’ll have on offer.
  • The lender will calculate affordability based on your income and outgoings. If you’re still paying the mortgage on your main home, this will affect the amount you can borrow.
  • Lenders will assess your track record of repaying your mortgage on your main home when reviewing your application.
  • As this will be a second property, you will need to pay a 3% Stamp Duty surcharge, which can increase costs significantly.

If you hope to let the property out, you’ll need to use a holiday let mortgage, which is a special type of buy-to-let mortgage.

Comparing mortgage deals can be time-consuming and confusing. If you’re ready to buy a holiday home, we’re here to help you find the right mortgage deal for you. Please contact us to discuss your needs.

Please note: This blog is for general information only and does not constitute advice. The information is aimed at retail clients only.

What our clients say

The people we help are at the heart of what we do. Here are some of their testimonials.

I would highly recommend Darius and John. I’ve used a financial adviser previously and could never get in contact with them when I needed their help. Stratton Wealth Management have been excellent from the start. They are always available to talk, and they also don’t talk in financial jargon!

Dave Rigby -

A client since 2015

Having recently transferred my financial management to Stratton Wealth Management, I have been extremely impressed with the highly professional service I have received. I feel I have been fully involved in all decision making, and the company's highly skilled advisers have shown commitment and patience in any dealings I have had with them. I have also always found them to be easily accessible for any discussion I may require.

Denise Thornton -

A client since 2019

As a business owner and father of four children, finances are usually the last thing we think about. Stratton oversees and manages our finances, both in terms of advice for my business and our personal investments. It is comforting to know that our retirement, investment and life insurance planning has been taken care of. Darius and John are always so efficient in dealing with our affairs. As someone with no real understanding of the ins and outs, it has been fantastic to have experts giving us great advice and making sure our best interests are always the top priority.

Lee and Claire Parkinson -

Clients since 2016

Darius deals with my family’s finances and is a very trusted adviser. We meet a number of times a year, but I know I can call him any time if I have any questions. He is proactive, helpful and friendly!

Jonathan Dennis -

A client since 2019

I knew I needed to begin saving and planning for the future but didn’t know where to start. Stratton helped me to understand my finances and put together a savings plan that is affordable and works for me. I now have and an ISA and a pension, and whilst retirement is many years away, I have the peace of mind that I am saving for my future. I look forward to working with them for many years to come.

Martin Corrigan -

A client since 2016

I have been impressed with the advice and service provided by Stratton Wealth Management and have always found Darius to be approachable, dependable and highly professional in his approach. It is reassuring to be able to have such a high level of confidence and trust when it comes to financial advice.

Russell Jones -

A client since 2018

Many thanks indeed for your in depth report for my client Mrs H – it is most thorough and above all readable. This might sound particularly strange; however you may well gather that in my profession we see many such reports, and I often feel that if the adviser fills it with charts and graphs it evidences a level of research. In truth most of what is produced is readily obtainable from the internet.

I would like to thank you (and your organisation) for your prompt and professional attention to my requirements on behalf of my client. As a practice we shall definitely be putting Stratton Wealth Management on our “preferred supplier list".

Colin Dunstall, Donaldson Dunstall Solicitors -

A client since 2015