Snowdonia - new to all this. Help please!

[eryrirover]

Hi, we are in the process of renovating home in a lovely spot in Snowdonia. Presently subject to a smallish 'normal' mortgage.
Should be finished to a reasonably high standard within the next 3 months.
I am unsure of the mechanics of getting the place up and running to let.
I have identified one possible mortgage lender and he said that I need to get confirmation that the house will attract bookings from an agency. I have no doubt that it will.
A few questions!

1. Does anyone have any recommendations for good agencies in the area ?

2.What should our timetable be for getting mortgage in place, getting signed up with agencies etc...

Hope this makes sense and thanks etc....

[Nemo]

First of all welcome to LMH.

If you start searching there is masses of help here. Some find it easier to search LMH within google. Here's one thread for starters about agencies.

viewtopic.php?t=15626

Most of the regulars here don't use agencies, we go it alone, hence we have this support network of other experienced renters. I did to start, but they moved all the goalposts, so it wasn't long before I went it alone.

Are you planning to remortgage in order to raise funds for the renovation? If so every lender will have its own hoops for you to jump through regarding proof of rental income. You don't need to change mortgage simply because you are choosing to rent it out do you?

Have a browse through the just starting out section. I can't do proper searches at the mo, but I remember reading relevant threads in the past that will help.

Others will no doubt have more useful help than I about timescales. Certainly sounds like you need a few months, but if you come to the market before June you can still pick up the summer bookings.

[eryrirover]

Nemo, a very helpful post.
I had understood that I needed to get a particular type of mortgage to let a furnished holiday home.
I have just been paying a standard mortgage and using the property as and when.
Can I just continue with the standard mortgage?
Many thanks.

[Pmagowan]

I would have thought that as long as you make your payments your current mortgage is fine. Might be a different kettle of fish with insurance. Good luck

[apexblue]

You need permission from your mortgage lender who will no doubt raise your rates or a buy to let mortgage. If you don't and there is a fire or such like your insurance is invalid.

[charles cawley]

Yes, Nemo's link is to a useful discussion which was not so long ago. As you can guess, we are one of the few agencies on here.

The main thing is to have bought well and to get the formula right. The ideal long term thing, if you have the time, is not to depend on an agency.

You heard this from an agency boss. Some of the listing sites can be surprisingly effective and there is some excellent information on LMH about how to pick and manage them.

We would, however, like to think that we can still help as an extra source of bookings as well as providing a full booking service for some owners. Some agents can be very helpful in the early stages providing information and guidance. Sadly, we do not extend to that part of Wales.