About Us
Holiday Cottage Mortgages (HCM) was created to help existing and new holiday let property owners secure affordable mortgage finance on their prized homes.
Founded by holiday letting experts, HCM brings together a broad and deep understanding of the holiday letting industry with professional and authorised mortgage broking, all delivered through an intuitive, easy to use, online platform.
Background
The market for “staycations” and holiday letting is enjoying strong growth, with companies such as Airbnb and Expedia pushing the industry forward. Many investment companies are also choosing to buy in to the industry right now, demonstrating confidence in the future of the holiday letting business model and confirming the holiday cottage as part of the modern vacation package, alongside flights, hotels and car hire.
Meanwhile the buy to let market has all but screeched to a halt, as the punitive tax changes regarding the limit on mortgage interest offset took effect in 2017/2018, and investors stopped buying new properties.
At HCM, we are seeing this rapid change in direction, with more and more people shifting to invest into a holiday let, so they can enjoy the benefits of owning a holiday home, whilst letting it out to the growing global market, generating a substantial, tax efficient income.
The one thing consistently holding back this shift in the market? The access to affordable holiday home finance.
For too long, there has been mis-information and poor understanding about how to get holiday let mortgages. Traditional brokers are often confused about the differences between holiday vs. buy to lets, whilst property owners are regularly, and wrongly, being advised that holiday let mortgages are a form of commercial finance, which must be repaid under normal commercial banking terms, such as a 5 year deal at 10% interest charge per annum. The list of confusion goes on.
Our plan
HCM’s purpose is to enable you to realise your opportunity of holiday letting by providing a specialised, digital broker service, focussed solely on holiday lets, quickly and simply.
With our combination of expertise, skills and technology, HCM presents a unique market offering and our strategic aim is to be the number one choice for everyone who is seeking to secure holiday cottage finance.