Oasis Tour: Mortgage expert issues warning to homeowners that have listed their property on Airbnb

As Britpop legends Oasis prepare to "Roll With It" back onto the stage for their highly anticipated reunion tour in 2025, a study has revealed that fans aren't just clamouring for concert tickets...

Mortgage broker Mojo Mortgages has revealed that Oasis fans are facing a "Champagne Supernova" of skyrocketing Airbnb prices in host cities, with some locations seeing increases of nearly 600%.

At £1k EXTRA per night, "Some Might Say" the average Airbnb prices are astronomical for Oasis concert go-ers  

Mojo Mortgages crunched the numbers by analysing hundreds of Airbnb listings for the first night of the concerts in various cities and comparing these prices to the average rates from the same day the previous week—when no major events were taking place. 

The analysis shows Cardiff leading the charge with a staggering 598% increase, jumping from £158 to £1,103 per night. Meanwhile, Manchester, the band's hometown, follows with a 491% surge, with prices leaping from £151 to £893 per night.

Interestingly, London defies the trend with a decrease in average Airbnb prices during the Wembley Stadium concerts. This anomaly is likely due to intense competition and the fact that closer Airbnbs sold out instantly, leaving the average Airbnb a 39-minute drive away.

In contrast, Cardiff offers a 10-minute drive, Manchester 16 minutes and Edinburgh 19 minutes, but they come with a higher price point. 

Oasis fans, "Don't Look Back in Anger": Airbnb hosts set to make up to £6,000 during Oasis concerts 

With every show sold out, most fans have likely already locked in their accommodations. Mojo Mortgages has calculated how much Airbnb hosts are likely to earn if they rent out their homes every night the band is in town.

Edinburgh stands out as the city with the highest potential earnings for homeowners. With an average nightly rate of £1,532, homeowners could earn over £6,000 during the three-night stay. 

This is followed by Oasis' hometown, Manchester, where they'll spend five nights at Heaton Park. The average Airbnb is £893 over this leg, meaning that Airbnb hosts could be pocketing nearly £4,500 over the five nights.

Not so "Wonderwall": A caution for homeowners that are renting out their Airbnb 

While these figures might have homeowners rushing to list their properties, John Fraser-Tucker, Head of Mortgages at Mojo Mortgages, wants to warn people beforehand:

"If you've gotten caught up in the excitement of the highly anticipated reunion and already listed your property on Airbnb, it's absolutely essential that you check with your mortgage lender that you're actually able to provide a short-term rental. Not consulting them could put you in breach of your mortgage terms and conditions, and could result in your lender hitting you with a fee or a higher fee. Or in the worst-case scenario, they could demand a full repayment of your home, or the potential for it to be repossessed.

"Many standard mortgage agreements don't allow for short-term rentals. For example, lenders like Santander, Natwest, HSBC, and Halifax typically prohibit Airbnb rentals on residential mortgages. 

"However, some mortgage lenders such as Metro Bank and Barclays will allow you to let out your home as an Airbnb for up to 90 days per year. This does, however, depend on the terms and conditions of your mortgage. 

"If you're unsure, speak with your lender. It's better to be safe than sorry, especially when dealing with such significant sums of money."

As the countdown to the Oasis reunion tour continues, it's clear that both fans and homeowners will need to navigate the financial implications of this momentous event carefully and "don't look back in anger" doing so!