Let to Buy Mortgages

Many people come across the property of their dreams and want to buy it straight away before they sell their current home.

This can be for a number of reasons:

1. They don’t want to sell current home, and keep as an investment.
2. They are on a tight time scale and so don’t have time to wait.
3. They want to rent out current house to top up their income.
4. They need to raise a larger deposit for their new home.

This is where LET to Buy mortgages can be an essential tool. The lender allows you to rent your current property whilst buying your new property.

The mortgage on Let property will not normally reduce their affordability.

By switching to a buy to let mortgage they may raise additional funds to put towards new home.

Seek professional advice as not all lenders will allow Let to buys and will want you to afford both mortgages.

YOUR HOME MAY BE REPOSSESSED IF YOU FAIL TO KEEP UP REPAYMENTS ON YOUR MORTGAGE

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