Archive for Latest News
Posted on 05/03/10, filed under Latest News | No Comments
Ownership of a holiday home by the sea or holiday cottage in the country is at an all time high according to research from Knight Frank.
There are now 245,384 registered second homes in the UK. 6212 more second homes were bought last year, an increase of 2.6 per cent on 2008 when the recession and credit crunch saw growth falter.
Why the growth? The number of second homes has reached a record high due to a combination of renewed confidence in the economy, low-cost borrowing, weak returns on cash investments and a weak pound – which makes buying a property in the UK a more attractive option than Europe.
Where are the UK second home hotspots?
Posted on 19/02/10, filed under Latest News | No Comments
Its time once again for our holiday home news round up, here’s what’s been happening: 16,000 burst pipe claims this winter, 10 property improvement mistakes, which are the most expensive ski resorts, beware of this property rental scam and some useful holiday rental statistics.
Claims flood in for insurers – business.scotsman.com
It’s been a bad winter for insurers. The Association of British Insurers (ABI) estimates claims caused by November’s flooding in Cumbria will reach £206 million.
In addition to the floods, the UK insurance industry has received almost 16,000 home insurance claims relating to water damage caused by the coldest winter in decades. Sainsbury’s Finance estimate that claims were worth £35 million… read the rest of “Recap of holiday home news: 19 February 2010” >>
Posted on 10/02/10, filed under Latest News | 1 Comment
The Griswolds are back.
It seems that HomeAway (owners of holiday rental portals holiday-rentls.co.uk and ownersdirect.co.uk) are investing some of the $459 million dollars they raised, in marketing the HomeAway brand, rather than just acquisitions.
They aired a commercial during the Super Bowl on Sunday featuring Chevy Chase and Beverly D’Angelo in a return to their classic roles as the Griswolds from the National Lampoon comedies.
The message from the ads was to promote the value in renting a holiday rental over a hotel – “why settle for hotel room when you can rent a whole house for half the cost”
According to HomeAway, only 10% of people who go on holiday choose holiday rentals, so there is massive potential.
With prices for a… read the rest of “HomeAway Griswolds Super Bowl ad” >>
Posted on 02/02/10, filed under Latest News | No Comments
It’s time once again for our holiday home news round up, here’s what’s been happening: Expats protest in Spain, the best countries to live in, council tax on second homes could double and the overseas property review of the decade.
The overseas property market in the noughties
 What’s happened in the overseas property market in the last 10 years? which countries were the biggest winners and losers?
Ten years ago a Dubai sea view flat cost about £40,000, an apartment on Spain’s Costa del Sol was £75,000 making them attractive investments, especially with the low cost airlines making them easily accessible to… read the rest of “Recap of holiday home news: 2 February 2010” >>
Posted on 12/01/10, filed under Latest News | No Comments
It’s time once again for our holiday home news round up, here’s what’s been happening: 10 tips for buy-to-let success, non-disclosure insurance law may be changed, is it wise to invest in a holiday cottage? National Trust demands extra payment for cottage holidays and the Holiday Cottages Group promotes self catering holidays.
10 buy to let tips
 After two decades investing in 700 buy to let properties, the former maths teachers Fergus and Judith Wilson are selling up.
Their strategy was simple: the rent covered their outgoings and capital values rose, then they would re-mortgage and reinvest. But is there more to… read the rest of “Recap of holiday home news: 12 January 2010” >>
Posted on 04/12/09, filed under Latest News | No Comments
Christmas is time for reflecting on the past year and being thankful. Many of you are privileged to own a second home, so why not consider giving something back?
 Jane Palliser runs Homes with Heart a unique organisation that helps families suffering from a life-limiting illness have a holiday.
From the website
Homes with Heart is a unique organization which lets holiday home owners donate spare weeks in their property to families who desperately need a break – young families where either a child or parent is terminally ill or has a life-limiting disease.
The onus is on healthcare professionals to refer a family whom they have known
Posted on 01/12/09, filed under Latest News | No Comments
It’s time once again for our holiday home news round up, here’s what’s been happening:
Spanish tax refund for Britons - dailymail.co.uk
If you sold a holiday home in Spain in the past 12 years (from 1997 onwards) then you could be owed on average £13,500 by the Spanish tax authority.
The European Court of Justice has opened the door to this huge tax rebate for non-residents of Spain, by ruling that the tax regime was ‘unlawful and discriminatory’. While locals paid just 15 per cent in capital gains tax (CGT) on their profits when they sold, Britons and other non-residents were charged a hefty 35 per cent… read the rest of “Recap of holiday home news: 1 December 2009” >>
Posted on 17/11/09, filed under Latest News | 2 Comments
It’s time once again for our holiday home news round up. Here’s what’s been happening:
Unoccupied holiday homes in Wales targeted by arsonists – dailypost.co.uk
Police in North Wales are investigating arson attacks on two unoccupied holiday homes which appear to be connected. Fire crews were sent to the houses in Ty Croes and a few miles away at Pencarnisiog.
Police said there was nothing to suggest that the fires were related to any Welsh extremism. Nearly 30 years ago there were a wave of arson attacks against English-owned holiday homes in North and mid Wales, in response to houses bought as second homes pushing up property prices beyond… read the rest of “Recap of holiday home news: 17 November 2009” >>
Posted on 30/10/09, filed under Latest News | No Comments
Spanish apartments due to be demolished advertised to UK buyers
Apartments on a development in Marbella which was built illegally and has been condemned to demolition, are still being advertised on websites targeting UK buyers.
Unfortunately, hundreds of existing owners at the development, many of them Britons, face their homes being demolished, with no compensation offered.
The worrying thing is that buyers followed sensible practice when purchasing property. They used an independent Spanish lawyer and saw for themselves documents issued by Marbella council, apparently confirming the legality of the land and building work. Unfortunately they fell foul of corrupt council officials, some of whom are now in jail.
Following the bad publicity, lawyers, notaries and… read the rest of “Recap of holiday home news: 30 October 2009” >>
Posted on 13/10/09, filed under Latest News | No Comments
New swimming pool alarm rules in France - connexionfrance.com
 Holiday home and gite owners in France should take note that new regulations have been introduced for alarms in private swimming pools, because current laws are not being adequately obeyed or enforced.
Since 2003, owners of submerged pools in France have been required to provide a system of security to prevent the risk of children drowning. Four different forms of security are permitted – an alarm, fencing, pool cover, or a shelter.
It is estimated that around half of pools still lack a security system, and that drownings in private pools continue to be unacceptably high. In 2006, 55 people died from drowning in a… read the rest of “Recap of holiday home news: 13 October 2009” >>
Posted on 30/09/09, filed under Latest News | No Comments
It’s time once again for our holiday home news round up. Here’s what’s been happening:
Why a yurt is better than a holiday cottage
 With holiday home prices beyond the reach of many of us, one family came up with a radical solution: their second home is a yurt.
Their “credit-crunch cottage,” is a 20ft-high cotton canvas hemisphere, 18ft in diameter, with slender ash ribs, navy felted wool lining and sisal flooring. With its own heating system, a stove made from a recycled gas canister, the yurt cost about £6,000 and is totally mobile.
Yurts can sit in your garden year-round, but if you want to park it in a field (your own, or someone… read the rest of “Recap of holiday home news: 30 September 2009” >>
Posted on 03/09/09, filed under Latest News | No Comments
Injured teenager refused insurance payout after car crash in France
A British man who suffered critical head injuries following a car crash in France has been told that his insurance company will not cover his treatment. Along with the British teenager, whose parents own a house in France, a passenger in the back was killed and two other passengers were seriously injured.
The travel insurance underwriters, said that they would not pay out on the policy because he was not wearing a seat belt and the car was overloaded.
This is a reminder to overseas holiday home owners who use their own or hire cars on their frequent visits, to familiarise themselves with the terms… read the rest of “Recap of holiday home news: 3 September 2009” >>
Posted on 25/08/09, filed under Latest News | No Comments
The appeal of thatched cottages
 The image of a thatched cottage in the country is the quintessential countryside scene for many. There are no shortage of second home buyers and these unique properties can carry a premium when holiday letting – but there are issues associated with ownership.
The cost of upkeep and repairs can range from a few hundred pounds every few years, to complete re-thatching every 20 to 30 years, costing upto £25,000.
Thatched holiday cottages also present an increased fire risk (50 to 60 thatched homes have serious fires each year) and therefore attract higher insurance premiums, although they can be protected by a fire retardant application and specialist fire alarms… read the rest of “Recap of holiday home news: 25 August 2009” >>
Posted on 14/08/09, filed under Latest News | No Comments
Buying overseas property at online auctions
Online property auctions are one way of picking up an overseas bargain, as investors who bought in areas where the market has all but dried up try to offload homes they can no longer afford. Bargain hunters can snap up cut-price properties without leaving home. However, buyers should exercise caution and do their research.
Some auction tips from the article:
- Be wary of buying any property “sight unseen”. It may be carrying undisclosed liabilities, have legal issues or be poor quality.
- You may be told a property is reduced by up to 50 per cent, but that may be based on a valuation taken two
Posted on 30/07/09, filed under Latest News | No Comments
Spanish car rental shortage and price hikes
If you or your holiday rental guests are expecting to pickup a car hire bargain this summer, think again. There may not even be any cars available.
Holidaymakers visiting Spain and other parts of Europe have been warned of a shortage of rental cars, as hire firms are refused credit by banks to restock their fleets.
With last minute summer bookings on the rise due to the downpours in Britain, hire car companies have reported an inability to meet demand. In some popular destinations prices for last minute bookings have almost tripled.
The advice is to book early and don’t expect to be able to pick up a… read the rest of “Recap of holiday home news: 30 July 2009” >>
Posted on 07/07/09, filed under Latest News | No Comments
Overseas property dreams that turn into nightmares guardian
Although investing in overseas property can be rewarding, there are also nightmare stories of investors losing thousands.
It is reported that one in five foreign property investors runs into ’significant difficulty’ – that’s 38,000 of us a year.
Before committing to any overseas property investment, the clear advice from this story is to seek the advice of a good lawyer.
The two different sides to the rental market bbc
Due to the thousands of people unable to sell their homes becoming accidental buy to let landlords, prices have been driven right down at the lower end of the market.
But there are two different sides to the rental… read the rest of “Recap of holiday home news: 7 July 2009” >>
Posted on 23/06/09, filed under Latest News | No Comments
Holiday homes in Spain escape demolition – timesonline
Spanish home owners are relieved at news that thousands of homes on the Costa del Sol will not be demolished, despite being declared illegal.
The Junta de Andalusia, the regional government, is due to make a final decision on the “illegal” homes later this year but is expected to announce that it will not knock down the majority of the estimated 18,000 properties without proper building licences in Marbella and other parts of the Costa del Sol. These flats or villas were built with bogus licences after corrupt council officials and councillors took bribes from some developers to by-pass planning laws.
The article also reports that there are discounts and opportunities available for Spanish… read the rest of “Recap of holiday home news : 22 June 2009” >>
Posted on 26/05/09, filed under Latest News | No Comments
Thieves break into Dolph Lundgren’s Spanish home – telegraph
Burglars in Spain abandoned their robbery after discovering the home they had broken into belonged to Dolph Lundgren, the Swedish actor who is 6ft 5in tall and has a black belt in Karate. The burglars fled after recognising the actor in a family photograph.
Rather than put photos of hardmen actors around your home, consider these holiday home security tips to deter burglars.
Buying a holiday let in the UK can be a smart investment – timesonline
With a combination of declining property prices, low interest rates on savings and UK tourism on the increase, investing in a UK holiday home could be a smart investment… read the rest of “Recap of holiday home news : 26 May 2009” >>
Posted on 05/05/09, filed under Latest News | No Comments
Has your European Health Insurance Card (EHIC) expired? telegraph
UK based owners of overseas property in Europe who hold a European Health Insurance Card (EHIC) are entitled to medical treatment while on holiday.
However, thousands of EHIC cards have now expired without notification, leaving holiday home owners liable to pay for medical treatment while abroad.
If your card has expired renew it now.
Tax change for overseas holiday home owners timesonline
Following the recent budget news that UK holiday let owners who let out their properties will be penalised, those who own second homes in Europe could receive a windfall of up to five years’ worth of tax paid back to them by HM Revenue… read the rest of “Recap of holiday home news : 5 May 2009” >>
Posted on 27/04/09, filed under Latest News | No Comments
Inform your travel insurer of any pre-existing medical conditions Telegraph
As the holiday season is now upon us and many of you will be visiting your holiday homes abroad over the summer months, it’s advisable to inform your travel insurer of any pre-existing medical conditions.
Travellers who fail to inform their travel insurers of any pre-existing medical conditions (often as a means to secure a cheaper premium or due to the opinion that cover will be refused), could be invalidating cover.
Even if you have a medical condition the chances are you will still be able to obtain insurance, although at a higher premium.
House prices: The Cottage Crunch Telegraph
The Telegraph reports that the value… read the rest of “Recap of Holiday Home News : 27 April 2009” >>
Posted on 06/04/09, filed under Latest News | No Comments
The BBC reports that a powerful earthquake hit central Italy at 0330 (0130 GMT).
Altogether, 26 cities and towns have been damaged by the 6.3-magnitude quake. In L’Aquila, 95km (60 miles) north-east of Rome, between 3,000 and 10,000 buildings in the medieval city may have been damaged.
Between 30,000 and 40,000 people are believed to have lost their homes.
Our thoughts are with those affected, especially those who are visiting their holiday homes in Italy over the Easter break… read the rest of “Earthquake Hits Italy” >>
Posted on 24/03/09, filed under Latest News | No Comments
Welcome to the Schofields blog which povides insurance tips and advice for holiday home owners. To find out more about Schofields and this blog, read the about us page… read the rest of “Welcome To The Schofields Blog” >>
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