Holiday Let Mortgages

[Ronny]

Will the merger of Skipton & Scarborough Building Societies affect Holiday let Investors?

Scarborough were one of a minority of mortgage lenders whom were happy to lend on properties with holiday let restrictions, and were flexible with their underwriting approach to such cases.

If Skipton do not 'carry the mantle' so as to speak, this could cause further problems to an already troubled holiday let market.

As the pound has weakened against other currencies, holidaying within the UK will become more attractive to the British public and overseas holidaymakers, increasing the demand for holiday homes around the UK.

There are many holiday let developments, either complete or still in the process of being built, throughout the country. This twinned with numerous holiday let investors keen to purchase it is necessary that there are various finance options available.

Hopefully lenders will have the foresight to recognise the opportunity to be had in this niche market and begin to provide further offerings.