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Did you find the perfect house but is labelled as a holiday property? Never mind. You can also use a mortgage to buy cottages that are designed for recreation. However, what matters and under what conditions can finance loan purchase recreational property?

You fell in love with the charming cottage that is beyond your financial possibilities? Or have you found a dream house that is unfortunately intended for recreation? In neither case you do not have to be sad - there is a possibility of mortgage financing. Get inspired in today's article - and you may find that your dreams are at your fingertips. Or rather within the reach of the mortgage - but real.

Without conditions it would not work

The purchased house should of course have a descriptive or registration number. These are just recreational buildings, which tend to have a registration number. In addition, the construction should stand on the land owned by the owner, otherwise the pledge of such a property would be inappropriate. This also applies to the need for trouble-free access to the object. If the trip to your dream cottage is through foreign roads or land, you will need to obtain at least the owner's consent or easement to ensure access to the collateral.

Pay attention to basic equipment

Individual banks may offer slightly different mortgages - and thus also the conditions for obtaining them. That is why it is good to inquire in several places at the same time or to arrange a detailed meeting with a broker or financial advisor. Prepare for it. You should know the answers to questions such as the habitability of the house all year round, cottage equipment, the presence of a bathroom and kitchen, the size of the building and of course the available utility network. Is that clear? So hurray for dreams - because it's never too late to be a proud vacationer or home owner in a secluded forest. And which idea is yours?


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