The holiday let market is back open
In the space of a 15-minute announcement from prime minister Boris Johnson last week, the English holiday let market went from stone dead to red hot, with reports coming through of campsites, bed and breakfast and other accommodations booked up for months within hours as people seek a post-lockdown escape.
Lenders have reciprocated to a certain extent by re-entering or launching into the market, but there is still some uncertainty abound.
Andrew Wattsford, Principal Broker, said that “prior to this announcement demand for these mortgages was low, whether it’s your traditional holiday let or Airbnb demand is high as more families are looking to stay in the UK this year rather than travel abroad. The number of lenders is low but we expect more and more lenders to return to this sector over the coming months.”