Britons snap up house-swap holidays

Cash-strapped Britons who don't want to sacrifice their holidays as the spending cuts bite are turning to house-swapping to make their money stretch further.

The number of people who have already lined up a house swap in 2011 has doubled since last year, with 3.4% of adults planning their holiday around a home exchange, a survey for Lloyds TSB Insurance found.

Cornwall, the Lake District, Devon and Scotland are the most popular places for house-swappers, while foreign destinations are also in the mix, with 15% heading to Spain, 15% to Italy, 12% to France and 10% to the US.

More than half, or 51%, opted for a home exchange as a cost-effective way of spending their holidays.

But Lloyds TSB Insurance urged homeowners to notify their insurer before embarking on a house swap after 24% reported returning home to a damaged property.

It also said house-swappers should register with a reputable house-swap website to reduce the risk of any unwelcome exchanges.

Paul Spillane, head of home claims at Lloyds TSB Insurance, said: "House-swapping looks set to be the trend of the year - it's easy to see why, as this type of holiday caters for so many different tastes.

"To ensure people make the most of their house-swap holidays, we're urging them to alert their insurers before taking part in an exchange so they don't jeopardise their cover."

Back to blog home

Disclaimer

All content is for informational purposes only and is the opinion of the author. Nothing on this website should be interpreted as "advice". Money Dashboard Ltd make no representations as to the accuracy, completeness, suitability or validity of any information on this site and will not be liable for any errors or omissions or any damages arising from its display or use.

Related articles

Download app
×
Important Information: Money Dashboard Neon and Classic mobile and web apps are now closed as of 31/10/2023. Please see our FAQs for more information.
FAQs
1