What are our customers saying?
"The HCM portal is such an easy way of uploading all the necessary documents and guides you through the application"
Property purchased in Wales
"We have been very impressed by the expertise and support we have received, and the online tools were very user friendly..."
Property purchased in Dorset
"HCM are a great, professional, mortgage advisor who knows the holiday let market very well and understands which lenders will match..."
Property purchased in York
Current Mortgage Rate Examples
To help you explore your options, below is a rough guide to some key mortgage criteria, taken from a broad view across the holiday let mortgage market. The following is accurate at the time of writing, but is subject to change:
- Lowest initial interest rates at 60% Loan to Value start at around 2.80%, whereas at 75% Loan to Value, you might expect rates around 3.20% to 3.50%, usually on a variable or fixed rate for a 2 year period, excluding all fees.
- Maximum Loan To Value (LTV) is normally around 75% and whilst slightly higher levels might be possible, they normally result in much higher interest rates.
- Maximum loan size is usually limited to around £1m for low LTV’s and again, whilst higher is possible, it often comes at a cost in terms of interest rate.
- Minimum joint income is normally expected to be above £30,000, but can rise to over £80,000 for the better deals and those mortgages with higher LTV’s or bigger loan sizes. If you are self-employed, expect to be able to demonstrate at least 2 years of good trading results.
Please note that these are examples only and are not any suggestion or guarantee that you will be able to get a mortgage offer. We are just trying to be helpful!
Updated: 06 September 2020
Where are the mortgages from?
Any of the usual providers you'd expect to see, plus a few more that you may never have heard of.
Our team speaks directly to banks and building societies, including “intermediary only” lenders and a range of other niche providers to get you the best possible holiday let mortgage.
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.