Let To Buy
Let-to-Buy Mortgages – Unlock the Potential of Your Current Home
A let-to-buy mortgage allows you to rent out your current home while purchasing a new one. Whether you’re relocating, upsizing, or simply want to keep your existing property as an investment, our expert mortgage advisers can help you navigate the process smoothly.
How Does Let-to-Buy Work?
Let-to-buy involves taking out two mortgages:
A let-to-buy mortgage on your current home, enabling you to rent it out.
A new residential mortgage to purchase your next home.
Lenders will assess your affordability for both mortgages, considering your rental income and personal financial situation.
Why Consider Let-to-Buy?
Keep Your Existing Property as an Investment
Instead of selling your home, you can turn it into a rental property, generating additional income and benefiting from potential property value appreciation.
Unlock Equity for Your New Home
Remortgaging your existing home with a let-to-buy mortgage can release equity, providing a deposit for your new purchase.
Smooth Transition to Your Next Home
Let-to-buy can be a great option if you want to move quickly without waiting to sell your current home.
Key Considerations
Rental Income Requirements – Most lenders require your rental income to cover 125-145% of your mortgage payments.
Deposit Requirements – Typically, a 25% deposit is needed for the let-to-buy mortgage.
Affordability Assessment – Lenders will assess your income, expenses, and rental yield to ensure you can afford both mortgages.
Tax Implications – Income from rent is taxable, and recent changes in mortgage interest relief may affect profitability. We’ll help you understand the financial impact.
Why Choose Us?
Whole-of-market mortgage advice – We compare deals from UK lenders to find the most competitive options.
Expert guidance – Our team helps you understand the let-to-buy process and your financial obligations.
Seamless application support – We manage the paperwork and liaise with lenders on your behalf.
Tailored solutions – Every homeowner’s situation is unique; we ensure you get the best mortgage to fit your needs.
Get Started Today
Let-to-buy can be a smart way to transition to your next home while building a property portfolio. Contact us today for expert mortgage advice tailored to your situation.
