Holiday let market still seeing ‘significant demand’

Investors are still reporting “significant demand” in the holiday let mortgage market despite the easing of COVID lockdown restrictions, research from Hampshire Trust Bank has indicated.

A webinar poll conducted by the specialist bank revealed that over half (55%) of broker respondents said they had written a holiday let case over the past 12 months.

The research emerged during a recent Hampshire Trust Bank webinar on holiday let mortgages which had nearly 100 brokers in attendance. It also found that 84% of respondents said they had received more holiday let enquiries since the onset of the pandemic in 2020, while 48% had even seen more enquiries since restrictions were lifted earlier in the year.

Furthermore, brokers were asked what the most popular regions in the UK for holiday let enquiries were over the past 12 months. The South West of England was the most popular location for 54% or respondents, and this followed by Cumbria and the Lake District (26%), the South Coast (23%) and East Anglia (14%).

“These findings show there is still significant demand for holiday let mortgages,” said managing director, specialist mortgages at Hampshire Trust Bank, Louisa Sedgwick. “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.”

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