08/06/2022
The popularity of holiday-lets has continued to rise, fuelled by the staycations boom.
We continue to see a substantial increase month on month in holiday-let lending since 2019.
During the course of the pandemic may customers opting to purchase second homes for their own personal use, alongside letting them on a short-term basis for lucrative yields.
There has been a flurry of lenders who have recently started supporting the market to confirm this is viewed as a growth area.
The dynamics of the market are also changing.
Historically lending in areas such as Devon, Cornwall and the Lake District was the choice, but are now seeing a lot of activity in larger cities, particularly across the North of England, where short term lets can accommodate weekend breaks now that restrictions have eased.
The ability to use for personal purposes is also really appealing along with the accounting and tax advantages over regular buy to lets.
