{"id":604,"date":"2022-08-03T14:35:41","date_gmt":"2022-08-03T13:35:41","guid":{"rendered":"https:\/\/holidayletmortgageuk.com\/?p=604"},"modified":"2022-08-03T14:35:44","modified_gmt":"2022-08-03T13:35:44","slug":"continued-appetite-for-staycations-offers-boost-to-holiday-let","status":"publish","type":"post","link":"https:\/\/holidayletmortgageuk.com\/continued-appetite-for-staycations-offers-boost-to-holiday-let\/","title":{"rendered":"Continued appetite for staycations offers boost to holiday let"},"content":{"rendered":"\n

Buy-to-let investors are always keen to look for new opportunities, and over the last few years there have been few bigger opportunities that the boom in the holiday let arena.<\/strong><\/p>\n\n\n\n

We polled brokers recently to get a better insight into their own experience of the holiday let market, and it\u2019s clear that the last couple of years have been a period of significant growth for this sector.<\/p>\n\n\n\n

More than half (55%) of intermediaries said they had written a holiday let case over the past 12 months, while more than 84%said they had seen an uptick in holiday let enquiries since the start of the pandemic.<\/p>\n\n\n\n

What\u2019s more, almost half (48%) saw a jump in enquiries since restrictions had been lifted.<\/p>\n\n\n\n

It would be easy to assume that this interest is solely down to the pandemic. With overseas travel all but impossible, it was understandable that there was then a sharp rise in interest in staycations. People need to take a holiday, after all.<\/p>\n\n\n\n

Little wonder then that investors recognised the increased interest, and took advantage by adding holiday lets to their portfolio.<\/p>\n\n\n\n

However, that train of thought would suggest that the staycation trend has passed. After all, now that we can holiday abroad once more, will there still be the demand for short-term lets?<\/p>\n\n\n\n

Contact us today to speak with a specialist\u00a0Holiday Let Broker<\/a><\/strong>\u00a0to discuss how we can assist you<\/em><\/p>\n\n\n\n

Demand for domestic holidays<\/strong><\/p>\n\n\n\n

The reality is rather different, however, with a host of studies revealing that the appetite among Brits to have at least one holiday on domestic shores remains strong.<\/p>\n\n\n\n

For example, the latest study from VisitBritain found 59% of Brits plan to take at least an overnight trip domestically over the next 12 months, compared to 44% who are going to head overseas at some point.<\/p>\n\n\n\n

Notably, one in three intend to take more UK trips in the next 12 months than the preceding year.<\/p>\n\n\n\n

That\u2019s a pretty strong statement that interest in domestic trips may have been given a helping hand by the pandemic, but that demand is far from dwindling.<\/p>\n\n\n\n

Throw in the fact that improved international travel means greater numbers of visitors from abroad heading for our shores, providing more potential tenants for short-term lets, and it\u2019s perhaps not surprising that landlords remain keen on investing in these properties.<\/p>\n\n\n\n

Discover our\u00a0Holiday Let Mortgage Broker<\/a><\/strong>\u00a0services.<\/em><\/p>\n\n\n\n

The role of brokers<\/strong><\/p>\n\n\n\n

Mortgage intermediaries are crucial allies for all property investors, irrespective of what form of property they are looking to put their money into.<\/p>\n\n\n\n

As a result, brokers will inevitably be hearing from clients in the months ahead who are interested in the holiday let market and how to go about finding finance.<\/p>\n\n\n\n

This represents a terrific opportunity for brokers. Holiday let may have traditionally been seen as something of a niche area of the market, a specialist segment which they may have overlooked – not anymore, so it\u2019s crucial brokers get to grips with the subtle ways in which holiday let products differ from traditional buy-to-let deals so that they can help those clients secure the funds they need to add to their portfolios.<\/p>\n\n\n\n

Flexibility from lenders<\/strong><\/p>\n\n\n\n

Lenders have a big role to play here. Firstly, across the board we need to do a far better job in educating brokers, helping them understand the intricacies of these holiday let products and how they can support clients in a range of different circumstances.<\/p>\n\n\n\n

But we also need to do a better job in highlighting the decision-making process. At HTB for example we put our trust in our manual underwriting process; there\u2019s no relying on automated decisions, which risk unfairly excluding clients who could make a great success of holiday let investments.<\/p>\n\n\n\n

Instead, flexible lenders are able to get to grips with the facts about each and every case, nail down the crucial details so that they are able to provide a more informed decision.<\/p>\n\n\n\n

The holiday let market has already grown substantially and looks set to play a more important role in the future. It\u2019s therefore vital for brokers to make the most of this opportunity, and for lenders to support them in doing so.<\/p>\n\n\n\n

Source: Financial Reporter<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Buy-to-let investors are always keen to look for new opportunities, and over the last few years there have been few bigger opportunities that the boom in the holiday let arena. 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