Let Kv∗ denote the complete graph Kv if v is odd and Kv−I, the complete graph with the edges of a 1‐factor removed, if v is even. Given nonnegative integers v,M,N,α,β, the Hamilton–Waterloo problem asks for a 2‐factorization of Kv∗ into α CM‐factors and β CN‐factors, with a Cℓ‐factor of Kv∗ being a spanning 2‐regular subgraph whose components are ℓ‐cycles. Clearly, M,N≥3, M∣v, N∣v and α+β=⌊v−12⌋ are necessary conditions. In this paper, we extend a previous result by the same authors and show that for any odd v≠MNgcd(M,N) the above necessary conditions are sufficient, except possibly when α=1, or when β∈{1,3}. Note that in the case where v is odd, M and N must be odd. If M and N are odd but v is even, we also show sufficiency but with further possible exceptions. In addition, we provide results on 2‐factorizations of the complete equipartite graph and the lexicographic product of a cycle with the empty graph.