A growing number of customers are taking advantage of equity release schemes to help them purchase a luxury lodge holiday home, reports a Shropshire and Mid Wales caravan dealership.
Salop Leisure, which has sales centres in Shrewsbury, Machynlleth and Stourport-on-Severn, say many homeowners are deciding to unlock some of the wealth they have built up in their home to invest in a luxury lodge or caravan holiday home at a park of their choice.
This method of buying a holiday home is becoming increasing popular with retired people who are looking for all the financial options available to them.
The decision to release some of the value of their current home tax-free, whilst retaining full ownership of their property, is often taken by couples in consultation with their extended family who will also potentially benefit from the holiday home.
Many people who already own or are looking to purchase a luxury lodge or caravan holiday home are often of retirement age. Those who previously couldn’t afford to purchase the caravan of their dreams are discovering that equity release gives them another financial option.
Apart from releasing enough money to buy their dream holiday home, homeowners can also bank an additional amount to cover future site fees.
In response to the growing trend, Salop Leisure has expanded its holiday home village display at the company’s Shrewsbury headquarters to give customers a great choice.
Salop Leisure’s managing director Mark Bebb said: “We have noticed a growing trend of people releasing equity in their homes to buy luxury lodges and caravan holiday homes.
“Combined with our fantastic summer weather and public concern about foreign travel and passport delays post-Brexit, we are expecting even more people to take advantage of this option to buy luxury lodges and caravan holiday homes in the future.”
The company now offers models from Willerby, Atlas, ABI and Swift.
