West One’s summer staycation wish list.

  • The UK is experiencing a boom in the number of Brits staycationing, which presents a new and exciting opportunity for property investors.

     

    West_One_Holiday_Let_Infographic-01

     

    We have created a series of articles and videos to help you and your clients understand the opportunities and considerations before purchasing a holiday rental property.

     

    To kick-off, we’ve chosen our top 10 UK staycation locations and looked at the buy-to-let opportunities there.

     

    As you can see from the figures below there is a huge potential for higher profit margins from holiday lets.

     

    Cirencester, Cotswold

     

    Cirencester_1020975769

     

    Average property price*: £367,597

    Average cost of a week staycation for a family of 4**: £1,027

    Average monthly rental***: £1,216


    St Ives, Cornwall

     

    St_Ives_1612402150

     

    Average property price*: £449,682

    Average cost of a week staycation for a family of 4**: £2,067

    Average monthly rental***: £795

     

    Windermere, Lake District

     

    Windermere_1373111270

     

    Average property price*: £412,087

    Average cost of a week staycation for a family of 4**: £873

    Average monthly rental***: £1,000

     

    Caernarfon, Snowdonia

     

    Caernarfon_1224422803

     

    Average property price*: £167,966

    Average cost of a week staycation for a family of 4**: £994

    Average monthly rental***: £486

     

    Harrogate, Yorkshire Dales

     

    Harrogate_1653216640

     

    Average property price*: £381,653

    Average cost of a week staycation for a family of 4**: £894

    Average monthly rental***: £955

     

    Weymouth, Dorset

     

    Weymouth_1863752701

     

    Average property price*: £274,707

    Average cost of a week staycation for a family of 4**: £1,233

    Average monthly rental***: £681

     

    Edinburgh

     

    Edinburgh_1252311778

     

    Average property price*: £304,750

    Average cost of a week staycation for a family of 4**: £1,448

    Average monthly rental***: £1,367

     

    Fort William, Highlands

     

    Fort_William_1512733496

     

    Average property price*: £176,910

    Average cost of a week staycation for a family of 4**: £1,058

    Average monthly rental***: £750

     

    Torquay, Devon

     

    Torquay_751869016

     

    Average property price*: £253,439

    Average cost of a week staycation for a family of 4**: £1,408

    Average monthly rental***: £790

     

    Bakewell, Peak District

     

    Bakewell_1526564987

     

    Average property price*: £443,458

    Average cost of a week staycation for a family of 4**: £891

    Average monthly rental***: £1,051

     

     

  • Purchasing or refinancing a holiday let with West One

  • Our specialist buy-to-let product range is available for existing or first-time landlords wishing to finance holiday lets in their personal names or through a limited company SPV. Find out more about our holiday let mortgage products and their criteria in this short video:

     

    Key Features

  1. Holiday lets are assessed on an AST rental basis.
  2. Alongside existing landlords, we can lend to first time landlords with no letting experience.
  3. This product is available to individuals, limited companies, and expats.
  4. There are no minimum income requirements.
  5. We can accommodate short term lets and serviced accommodation.

 

If you have a client looking to purchase or remortgage a holiday buy-to-let, please contact your BDM or the broker support team on 0333 123 4556 or email btlbrokersupport@westoneloans.co.uk.

 

These figures are presented for information and illustration purposes only.

 

Sources:

https://issuu.com/bandcmagazine/docs/bridging_commercial_magazine_-_issue_15/16

https://www.lifestyledaily.co.uk/article/2021/06/14/report-reveals-over-half-brits-appreciate-holidays-uk-more-ever

 

* https://www.rightmove.co.uk/

** 7 nights for a family of four from 6th – 13th August 2022 from https://www.cottages.com/
*** https://www.home.co.uk/for_rent/current_rents_by_town.htm