Expat holiday Let Mortgages on the up in 2023.
There’s been a big increase in choice available to expat landlords wanting to enter the holiday let sector.
Indeed, the number of mortgage options for borrowers looking at holiday lets have more than doubled since August 2022.
More lenders have entered the market – there are now 25 different brands versus 14 in August 2022.
It’s positive to see a rise in expat holiday let product choice for landlords over the past few months, but the market is still relatively niche.
As the demand for staycations remains evident, it would not be too surprising to see more growth in this market in the months to come. In August 2022 only 6 lenders were offering a buy to let mortgage available to holiday let, whereas today there are many more options to the expat investor.
At this point in time, its evident expat landlords are taking advantage of the opportunity to earn an income through holiday lets.
Research is vital before deciding.
Undertaking thorough research into popular locations, weighing up tax benefits, reading up on rules regarding residency periods and other potential expenses outside of utility bills can feel daunting, so seeking advice before entering an arrangement is wise.
The number of holiday let companies set up, chiefly by expat landlords, between January and June this year has increased of 60% versus the whole of 2022 and 119% more than in 2019 according to experts.
Please do get in touch and one of our expert independent advisers will be happy to assist.