Banmoco News As It Happens

House-swapping for holidaymakers is mounting a comeback in a time of spending cuts, a recent survey has revealed.

Research showed that 3.4% of adults – double the number recorded a year ago – already arranged house swaps to take place in 2011, with areas such as Cornwall, the north’s Lake District, Devonshire and Scotland the most popular destinations for exchanges.

An online study of around 2,000 UK adults, carried out by Lloyds TSB Insurance and conducted last month, showed that 15% of house-swappers are heading for Spain, while 15% will go across to Italy, 12% down to France and 10% over the Atlantic to the United States.

Of those surveyed, 51%, opted for home exchanges as part of cost-effective measures of spending on their holidays. However, nearly a quarter, 24%, reported that they returned home and found damage done to their property. As a result, Lloyds TSB Insurance has urged home-owners that they notify their insurers before embarking on house swaps and that users of the service shouldn’t register with anyone other than a reputable house-swap organisation to reduce any risk of unwelcome exchanges.

Mr Paul Spillane, who is the head of Llloyds TSB Insurances home claims department added that  house-swapping will be a trend throughout 2011 and that it wasn’t easy to see why given the money that can be saved on accommodation costs. In order to ensure that people make the most out of house-swap holidays however, they should make sure that their cover isn’t jeopardised.