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Holiday lets bounce back
In the early weeks of this year, 173 more mortgage options were on the market for holiday let borrowers than in October 20221, and a broad range of fixed and variable options remain available now. After the September ‘mini-budget’, the range plummeted to only 26 lenders, but investors’ appetites have picked up as ‘staycations’ remain a popular holiday choice.
Hard resell for new builds
One in eight new-build homes are being resold at a loss, figures show2, with flats making up more than four-fifths of these loss-making sales. The average new-build property lost 7.8% (£22,000) of its value, with the typical sale taking place after 8.8 years. New builds are often sold at a premium, which can mean prices fall back to market rate when resold.
1Moneyfacts, 2023
2Hamptons, 2023
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The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated. If you withdraw from an investment in the early years, you may not get back the full amount you invested. Changes in the rates of exchange may have an adverse effect on the value or price of an investment in sterling terms if it is denominated in a foreign currency.
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