{"id":647,"date":"2023-02-13T19:25:35","date_gmt":"2023-02-13T19:25:35","guid":{"rendered":"https:\/\/holidayletmortgageuk.com\/?p=647"},"modified":"2023-02-13T19:25:36","modified_gmt":"2023-02-13T19:25:36","slug":"surge-in-holiday-let-deals-as-lenders-return","status":"publish","type":"post","link":"https:\/\/holidayletmortgageuk.com\/surge-in-holiday-let-deals-as-lenders-return\/","title":{"rendered":"Surge in holiday let deals as lenders return"},"content":{"rendered":"\n

Buy-to-let landlords will find holiday let deals have bounced back from a substantial drop towards the end of 2022, with fresh analysis by Moneyfacts.co.uk revealing that there are now more than 400 deals available to holiday let.<\/p>\n\n\n\n

Mortgage options for borrowers looking at holiday lets have increased to 411 options, up from 173 seen in October 2022, thanks to the rise in lenders active in this area of the market.<\/p>\n\n\n\n

Lenders have returned to the holiday let market, with 34 different brands now operating, eight more than in October 2022 \u2013 the majority of which are currently building societies.<\/p>\n\n\n\n

Government rules to be introduced in 2023 impact the demand for holiday let properties, but the cost of living crisis may encourage demand for UK holidays over a trip abroad.<\/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

Rachel Springall, finance expert at Moneyfacts.co.uk, commented: \u201cThe outlook for buy-to-let product choice in the holiday let market took a nosedive in the aftermath of the fiscal announcement, so it\u2019s positive to see product availability bounce back. Lenders have returned to the market and average rates have come down since October 2022, but as seen in the wider buy-to-let market, it may take time for more improvements to surface. Building societies continue to dominate this space and overall, there are more than 400 deals to choose from, covering both fixed and variable rate options.<\/p>\n\n\n\n

\u201cDue to the pandemic, there was a huge demand for UK-based holidays, so buy-to-let investors could have seen the potential to dip into holiday lets. As the holiday aspirations of consumers change, demand for UK holidays could fall, but at the same time, the country is facing a cost of living crisis which may keep them interested in a more cost-effective UK break. However, rising interest rates may well dent the profit margins of investors during 2023 and, on top of this, the Government is due to make reforms which will impact holiday let investors. Holiday lets will need to be rented for a minimum of 70 days a year and available to be rented out for 140 days a year, and homeowners will need to show evidence of their lettings and meet certain criteria to qualify for business rates relief. These new rules are due to come into force this April and are designed to protect legitimate investors.<\/p>\n\n\n\n

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

\u201cLandlords may be dipping into their savings due to the cost of living crisis, and the expense to redevelop a property to a high standard may be more now than in previous years. Mortgage interest rates have risen over the past year, so it is imperative prospective landlords seek advice to compare their options and consider a fixed rate deal for peace of mind. Investors picking a property with their head over the heart is extremely wise, and in-depth research must be done on locations and listing services to ease any concerns over letting exposure and seasonal dips.\u201d<\/p>\n\n\n\n

By Marc Da Silva<\/p>\n\n\n\n

Source: Property Industry Eye<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Buy-to-let landlords will find holiday let deals have bounced back from a substantial drop towards the end of 2022, with fresh analysis by Moneyfacts.co.uk revealing that there are now more than 400 deals available to holiday let. Mortgage options for borrowers looking at holiday lets have increased to 411 options, up from 173 seen in […]<\/p>\n","protected":false},"author":3,"featured_media":159,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[27,6,10],"acf":[],"yoast_head":"\nSurge in holiday let deals as lenders return<\/title>\n<meta name=\"description\" content=\"Buy-to-let landlords will find holiday let deals have bounced back from a substantial drop towards the end of 2022\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/holidayletmortgageuk.com\/surge-in-holiday-let-deals-as-lenders-return\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Surge in holiday let deals as lenders return\" \/>\n<meta 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