How Let-To-Buy Mortgages Work
Let-to-buy mortgages work by allowing you to rent your current home for a monthly amount, provided that this covers the cost of the mortgage. This then leaves you free to buy another home without having to be part of a chain, and you could even use the let-to-buy mortgage to raise money to put towards your new home.
This type of mortgage differs from traditional buy-to-let mortgages as you may be able to borrow more than you would from a buy-to-let and may get a preferable interest rate.
Obtaining A Let-To-Buy Mortgage
Even if you already own some buy-to-let properties but wish to rent out your current home as an extension of your current portfolio, we have access to experts who can advise you on your options and help you find the let-to-buy mortgage for your circumstances.
Let-to-buy mortgages are slowly growing in popularity, but it can still be tricky to find the right lender and deal. It can also be complicated working out how much you can borrow, especially considering potential rental income and existing mortgages. Before moving in, you may need to secure extra funds to spend on your new property.