Staycation finance

Since the end of 2020 there has been huge popularity in staycations. A staycation can be a holiday which is taken in the same country that you live or simply staying at home and taking day trips to local attractions.

The UK has some fabulous destinations for a holiday whether it is experiencing the vast coastline, the natural beauty of the countryside or a taking tranquil city break, there are options available for everyone. This increase in popularity of staycations has had a positive impact on the hospitality and leisure industry.

Many businesses, entrepreneurs and homeowners are looking to capitalise on this boom by investing in new caravans, motorhomes, static caravans, lodges, glamping pods and property lets. The common factor that helps them all is staycation finance.

Staycation finance provides a suitable funding solution which can help to facilitate several different purchases. It can cover hire purchase, lease purchase, business loans, asset finance, commercial mortgages and buy to let facilities. Typical examples for where staycation finance has been used include:

• Commercial mortgage to enable the purchase of a second property which is used solely for the purpose of a holiday rental.
• Asset finance for the purchase of an additional static caravan to be added to an existing fleet on a holiday park.
• Business loan to convert land into a clamping site.
• Bridging loan to facilitate the purchase of a new camp site whilst the renovations on an existing one are completed.
• Loan to enable the purchase of a 10 beach huts which are then rented out to visitors daily.

Did you know that there are some specific regulated funding options available solely for the holiday home market? Ask us for more details.

One key area to note for people who are looking to purchase a static caravan located on a park site is that they don’t have to use the funding made available from the owners of the park site. In fact, it is strongly recommended to find alternative options as there are far more competitive deals available.

Here at NGI finance, we have specialist knowledge in the field of staycation finance. To find out more please call us on 01993 706403 or e-mail enquiries@ngifinance.co.uk.