The Cumberland has announced a new partnership with leading holiday let trade body, the Professional Association of Self-Caterers (PASC UK), as it expands its support for business owners across the holiday let sector.
The mutual will offer its specialist finance expertise to PASC UK members and inform the trade body’s lobbying work on the finance issues affecting business owners in the short-term and holiday let lending sector.
Having marked its 175th anniversary last year and based in Carlisle, The Cumberland is a recognised UK-wide specialist in holiday let lending, both via intermediaries and direct to landlords. The mutual also offers tailored residential mortgages, savings and current accounts designed to support its members and the communities it serves, guided by its Kinder Banking ethos.
PASC UK acts on behalf of the professional holiday let sector, ensuring that they are represented at a Government level in both Westminster and the Senedd.
PASC UK serves its membership of more than 2,500 property owners and agencies with data-led responses to prospective policy interventions and practical support, guidance and advice. The association builds cross-industry coalitions with tourism bodies, briefs ministers, officials and committees, and challenges unintended consequences and the cumulative impacts of repeated interventions.
PASC UK’s latest lobbying efforts include helping halt proposals for short-term lets to be brought into the EPC regime, which would have required a minimum EPC rating of C to continue operating. Under the proposal, where this was not achievable, owners would have been required to spend up to £15,000 attempting to meet the standard. It has also worked with the UK Government for nine years to help shape the proposed statutory registration scheme for short-term lets, creating an industry-wide database for the first time. In Wales they have secured a consultation into the existing 182 letting threshold which has been so damaging for the sector.
Kevin Aitken, Senior Sales Manager at The Cumberland Building Society, said: “We are delighted to be partnering with the Professional Association of Self-Caterers (PASC UK). The great work they do to champion the holiday let industry throughout England and Wales combined with our knowledge and experience in the short-term lending sector makes this an obvious partnership and one that we really look forward to developing for the benefit of our customers and their members.”
Alistair Handyside MBE, Executive Chair of PASC UK, said: “The Professional Association of Self-Caterers UK (PASC UK) is the national trade body representing self-catering accommodation providers across England and Wales, supporting thousands of micro and small businesses operating at the heart of the visitor economy.
“PASC UK provides its members with expert guidance, practical support, and up-to-date intelligence on tax, regulation and compliance, while leading industry lobbying to ensure government policy is shaped by real data and reflects the needs of professional operators.
“We are delighted to be working with The Cumberland, which will bring enormous value to both our members and other business owners in our sector. The Cumberland is recognised as the leading specialist in mortgage lending for the self-catering sector in the UK.”
