Caravan finance up dramatically
IM Financial Services arrange finance for caravan buyers
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Thursday, 09, Sep 2010 08:19
by Chris Malone
Brits have been buying caravans in their droves this summer, according to new figures from IM Financial Services Leisure.
The firm arranges finance for mobile home buyers and has noted a threefold increase in business during the warmer months of 2010.
It reported that loan applications were up 270 per cent on 2009 figures, which divisional manager Nelson Drinkwater puts down to a resurgence in the UK tourism industry that has seen more people commit to taking staycations.
"The main motivation for buying a touring caravan or a motorhome is often to take a larger number of short breaks throughout the year in the UK," he explained.
"Although there is an initial outlay, the cost of each holiday is obviously much less than staying in a hotel or rented cottage - and makes spur-of-the-moment getaways much easier."
Mr Drinkwater added that the firm was surprised at the scale of the resurgence, which began in early spring.
The expert noted how local economies have been boosted around the UK's 3,000-plus campsites.
In other news, Visit County Durham has noticed a marked increase in visitor numbers to the area in the past 12 months.