Owning a second property used to be the preserve of the very wealthy. This is no longer the case and the prospect of purchasing a second property, for whatever reason, is becoming a reality for more and more people.
As well as being done for practical purposes – such as purchasing a holiday home by the sea or an apartment close to the city as a weekday dwelling for the main earner of the family – purchasing a second property can also be carried out as an investment.
Funding the purchase of a second property can be done in numerous ways. For those people that do not have the necessary cash at their disposal, there are options such as releasing equity in your main property by remortgaging (providing, of course, that you have a sufficient amount of equity available in that ...