You are here: Home - Mortgages - Buy To Let - News -

More mortgage options for holiday let borrowers

0
Written by:
06/09/2021
Mortgage options for borrowers considering holiday lets have more than doubled in the last year amid a rise in the number of people ‘staycationing’.

There are now 186 options available compared to 74 in August 2020, according to data from Moneyfacts.

In addition, more lenders have entered the market. There are now 25 different brands versus 14 in August 2020, the majority of which are building societies.

Rachel Springall, finance expert at Moneyfacts.co.uk, said: “It’s positive to see a rise in holiday let product choice for landlords over the past few months, but the market is still relatively niche as there are less than 200 deals available.

“As the demand for staycations remains evident, it would not be too surprising to see more growth in this market in the months to come.”

She added: “Whether the appetite for staycations falls into 2022 is unknown but for the moment it’s evident landlords are taking advantage of the opportunity to earn an income through holiday lets.

“Those who may have saved some additional disposable income during the UK lockdown, or are looking for alternative investment opportunities, may then be keen to get involved. Undertaking thorough research into popular locations, weighing up tax benefits, reading up on rules regarding residency periods and other potential expenses outside of utility bills can feel daunting, so seeking advice before entering an arrangement is wise.”

 

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Unfamiliar banks woo savers with top rates…is your money safe?

If you’ve been keeping an eye on the savings best buy tables, you’ll have noticed some unfamiliar names lu...

What the base rate rise means for you

The Bank of England has raised the base rate by 0.25% to 0.5% – following on from the increase from 0.1% to ...

How to get help with your energy bills

The rise in the energy price cap from April will mean millions of households will pay hundreds of pounds a yea...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week