We are fully authorised to arrange holiday cottage mortgages on your behalf, taking away the hassle and misery of the traditional mortgage process, leaving you with more time to focus on your new holiday home
HCM was founded by holiday letting experts who understand the holiday letting market, ensuring your mortgage application is properly structured and completed, giving you the best chance of success
Market Update: Quarter 4, 2021
We're pleased to say that if you're hoping to secure a holiday let mortgage, it's good news! Here, we've put together a brief market update to give you confidence about the outlook for holiday letting.
We're continually keeping a close eye on holiday let mortgage rates and are pleased to say that they're falling. It is now possible to get a five-year fixed rate at around 3.5% which is great, compared with rates of over 4% just a few months ago. Furness are the latest to lower their rates, which they did 11th October 21.
In the current market, the lending conditions are relaxing. For example, Leeds Building Society has changed the way it estimates rental calculations; a change which benefits holiday lets.
Mortgage lenders & products
We've recently seen more lenders coming to the market with new offerings, including The Cambridge and Market Harborough. We have also noticed existing lenders crafting new products for buyers and one example is Cumberland who has just recently released 60% loan-to-value solutions to target that specific part of the market.
Here at Holiday Cottage Mortgages, we think getting a mortgage for your holiday let should be easy and transparent. That’s why we put together a platform that could help the process move much more smoothly for customers, minimise paperwork and give people the best chance of success from their application.
We are holiday letting experts with experience working in the industry, and so we know the challenges of the mortgage process for new holiday lets across the UK. We can help you manoeuvre across the bumps that appear along the way whether you’re a cottage in the highlands of Scotland, house on the coast of Wales or a holiday home tucked in a beautiful village in England.
That leaves you to focus on what you want to do: running a successful holiday let business and filling it with happy holidaymakers!