Holiday Let Mortgage Calculator
Welcome to Holiday Cottage Mortgages!
The UK's leading holiday let mortgage specialist
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.
Alongside our smart technology, we provide fully qualified mortgage advice, ready to help you every step of the way.
Getting started is simple
Complete an initial assessment
Complete and submit the initial assessment, it takes less than 5 minutes.
Leave the heavy lifting to us
Our team will scour our unique database of holiday let lenders to find you the best rate possible for your situation.
Speak to an Expert
One of our in-house holiday let mortgage experts will share their findings.
In just 5 minutes ...
Request your free mortgage assessment
Discover how much you can borrow and what the best holiday let mortgage rates are by creating an account and completing our free, initial assessment.
- Complete the form
- Answer the assessment questions
- Receive your personalised results direct from our Experts
- It's that simple!
It takes no more than 5 mins, after which one of our expert mortgage consultants will provide you with your own, personalised results.
What are our customers saying?
Current Holiday Let Mortgage Rates
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 start at around 4.30% Two Year Fixed (up to 75% Loan to Value) plus a 3% lender fee.
- For Limited Company Holiday Let Mortgages, then the best rates start around 4.70% Fixed for 2 years, plus a 3% lender fee.
- Maximum LTV is normally around 75% and whilst slightly higher levels might be possible, they normally result in 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+. 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: November 2024
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.
What's great about us?
We're glad you asked.
With plenty of mortgage lenders and brokers out there, we understand why you'd ask. We're a digital broker with huge knowledge of holiday let mortgages, here to guide you through every step of the way.
- Simple initial assessment
- We take care of the legwork for you
- Whole of market search
- Personalised results provided by industry experts
Holiday Let Mortgage FAQs
Updated: November 2024. Lowest initial interest rates are 4.30% Fixed rate, for a 2 year period, excluding all fees. Limited Company rates from 4.70% for a Two Year Fixed, again, excluding all fees. Find out if you are eligible by completing a free initial assessment.
Being a specialist in the holiday let mortgage market, lenders often allocate exclusive and semi-exclusive rates to us which cannot be accessed by anybody else. Visit our site to find out more about us.
You sure can! Holiday Let Mortgages are unique and sometimes complex loans offered by smaller banks and building societies and employ 100% "manual underwriting". HCM is the UK's leading specialist broker in this niche field, and we arrange more holiday let mortgages than anybody else. Tell us about your plans by completing a free initial assessment.
Yes you can - we do them all the time! The process is more complex, requiring expert knowledge of company structures, legal charges and sources of deposit, like inter-company or Director's loans. HCM are very experienced in this field and we can guide you every step of the way.
You need a 25% deposit, in most cases, to get a holiday let mortgage in the UK. There are one or two lenders that might go higher, but they are not always available. Ready to see if you can get a holiday let mortgage?
Despite recent changes introduced by the Government, holiday lets remain a solid choice for those looking to invest their money in quality property in the best villages and towns in the UK. Unlike other investment types, you can use and enjoy your holiday let with friends and family, providing years of precious memories and fun times whilst producing a generous cash contribution to the costs of ownership and, hopefully, long term asset growth. Ready to see if you qualify for a holiday let mortgage?
Most lenders want to see some level of personal or “earned” income, other than that generated by property or investments. Typical minimum income is normally £25,000 to £30,000 pa. If you are self-employed, expect to be able to demonstrate at least 2 years of good trading results. Want to know if you will qualify?
Loans of up to £1m are possible, if the property and all other key factors are right. Maximum LTV is around 75% of the property value with slightly better rates offered at 70% LTV, and even better rates at 60% LTV. Want to find out how much you could borrow?
Holiday lets are fundamentally residential homes but used in a way that HMRC current deems to be a business when they conform to their Furnished Holiday Let regulations. This will change from April 2025 and you can read more about it here. Tell us about your plans by completing a free initial assessment!