Tourism in the UK is booming. According to Visit Britain1, more tourists than ever before are visiting the country. There were a record 39.2m overseas visitors in 2017 – up 4.3% on 2016 – with a corresponding 5.8% increase2 in UK residents opting for a ‘staycation’ rather than a foreign holiday.
The growth in the number of people choosing to enjoy their holidays in the UK has seen more landlords looking to diversify their portfolios to include holiday lets. In fact, research carried out by BDRC3 for Precise Mortgages shows that nearly one in 10 landlords with more than 20 properties now own a holiday let in the UK. For all landlords interviewed as part of the survey, holiday lets are now the second most popular property type to own, in addition to residential portfolios.
Precise Mortgages’ latest criteria enhancement has been designed to help landlords who want to invest in a holiday let. Landlords can choose from their core Buy to Let Mortgage range.
- Available to experienced landlords (must have held a buy to let property for at least 12 months prior to application)
- UK applications on houses and flats (providing there are no planning or occupancy restrictions)
- Available for personal ownership and Limited Company applications
- Available in England, Wales and Scotland
- 1 https://www.visitbritain.org/more-international-tourists-visiting-nations-and-regions-ever
- 2 https://www.ftadviser.com/mortgages/2018/08/23/what-to-know-about-the-holiday-let-market/
- 3 BVA BDRC Landlords Panel Q2 2018 report
To find out more about how Precise Mortgages can help, call 01277 508950 to speak with Brightstar’s team of experts or email email@example.com