Staycations drive surge in holiday let mortgages
Rising rents for UK holiday accommodation have seen staycations drive surge in holiday let mortgages as investors see growth potential. The resulting investor demand has now nudged holiday let mortgages into the mainstream.
Investors wanting to purchase a holiday property have the choice of buy-to-let or specialist holiday
let mortgages. To cater for growing demand, four more lenders have started offering holiday let
mortgage deals in the last six months and available deals have leapt over the last six months or so.
Trend set to continue
Analysts suggest that investor interest in holiday properties may be here to stay. Finance Expert,
Rachel Springall, commented, “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 the demand for staycations remains evident, it would not be too surprising to see more growth in this market in the months to come.”
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Time will tell if British holiday makers will head back to the Costas in their masses or stay closer to home. Predictions suggest that we will still see high demand that as staycations drive surge in holiday let mortgages.
With concerns about the possibility of interest rate rises, there’s never been a better time to fix a buy to let mortgage rate.
If you are borrowing to invest in rental property, then we know that the buy-to-let market is complex. There are many different home and buy to let mortgages to choose from. Download our Borrow to invest in rental property fact sheet for more information on how we can help.
Source: Quilter Essentially Mortgages Q4 2021