Holiday let mortgage enquiries still strong despite lifting of Covid restrictions
A webinar poll conducted by Hampshire Trust Bank, the specialist bank, has revealed that the holiday let mortgage market is still extremely popular with investors despite the easing of Covid-19 lockdown restrictions.
Over half (55%) of broker respondents said they had written a holiday let case over the past 12 months.
84% of respondents said they had received more holiday let enquiries since the onset of the pandemic in 2020 and 48% had even seen more enquiries since restrictions were lifted earlier in the year.
In addition, brokers were asked what the most popular regions in the UK for holiday let enquiries were over the past 12 months. For 54% or respondents, the South West of England was the most popular location, followed by Cumbria and the Lake District (26%), the South Coast (23%) and East Anglia (14%).
These responses emerged during a recent Hampshire Trust Bank webinar on staycations and holiday let mortgages, which had nearly 100 brokers in attendance.
The webinar was hosted by Louisa Sedgwick, Managing Director at Hampshire Trust Bank and the panel consisted of:
- David Fell, Senior Analyst, Hamptons International
- Peter Foulds, Director of Risk Management, Appraisers UK
- Hiten Ganatra, Managing Director, Visionary Finance
- Marcus Dussard, Sales Director, Hampshire Trust Bank.
Louisa Sedgwick, Managing Director, Specialist Mortgages at Hampshire Trust Bank, commented: “These findings show there is still significant demand for holiday let mortgages. The staycation boom we witnessed during the pandemic shows little sign of abating in the short-term.
“The fact that almost half of brokers taking part in the webinar have seen an increase in enquires since Covid restrictions were lifted clearly indicates the strength of demand for holiday let mortgages in the UK.”