Let To Buy Mortgage

Let to buy mortgage solutions from the experts

When it comes to getting a let to buy mortgage, it can be a complex process with potentially multiple transactions taking place. But rest assured we are experts when it comes to this.

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What is a Let to Buy Mortgage?



If you like the idea of keeping your home, renting it out and still being able to buy, this is a great solution. You’ll probably have lots of questions! If you have one that isn’t answered here, please just ask or take a look at this blog.

Do you have a question about a let to buy mortgage?

If you have a question that is not covered here, please contact us.

What is a Let to Buy Mortgage?

It’s easiest explained by describing the scenario when you will need one:

Imgaine you live in your home now, but suddenly you want to move to a larger property.

Rather than selling your home, you think it might be a good idea to keep it and rent it out.

Remember this can be a great solution for a market which takes a long time to sell, where you want to purchase quickly, where you don’t want to be stuck in a chain or where you want to keep hold of your home for property investing purposes.

The problem you face by doing this is you probably don’t have a deposit to put down on the new house you want to move into! If you do, then a different solution might be required, but lets assume you don’t for now.

Essentially it means you’ll have two mortgages; one on your (soon to be) rental and a new one on the new home.

The solution is to get a let to buy mortgage on your home and borrow a bit more, which then acts as the deposit for your purchase.

Now the important thing to manage is also the onward purchase, as the lender for your new home will want to know everything about your let to buy mortgage.

In other words both mortgages are very closely linked and intertwined. In a nutshell, both mortgages have to be very carefully managed.

This is a complex scenario and its vital to work with experienced mortgage brokers who are used to doing these.

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How does a let to buy mortgage work?


A let to buy mortgage is used as a way to keep your existing home and turn it into a renal property which you keep. The mortgage enables you to raise enough of a deposit, so you can use this to help buy a new home.

The advantage of this type of mortgage is that enables you to keep your existing assets, avoids you having to sell inorder to move, and can enable you to move much quicker.

When you are doing this, the likelihhod is that you will also need a new residential mortgage on the property you are moving into. You have raised the deposit from your existing property (by way of a let to buy mortgage) and you’ll then need to get a resiednital one.

Becuase multiple transactions are usaully happening simultaneously, both transactions are linked, even when you are using completely different lenders. So it is critical that both lenders are happy with the overall scenario and this does bring in an extra element of complexity.

If you are considering doing this, then it is always advisable to seek professional independent mortgage advice from an experienced broker who has experience of dealing with these complex sceanrios.

If you would like to discuss your own sceanrio, please feel free to get in touch.

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What is the difference between a let to buy and buy to let mortgage?

The difference between a let to buy and a buy to let mortgage, is the way you get to the end point, which is you’ll have a buy to let property. 

The difference is only really relevant when you are arranging a mortgage and the way this is structured.

A let to buy mortgage is usually used to rasie the deposit on your home (which you will rent out) and when you move out you will be moving into a new home, which you might need a new residential mortgage for. 

A buy to let mortgage on the other hand is a property which is currently being rented or will be rented if you are looking to buy, but which is not your home.

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How much rent will I get for my home?

Establishing how much rent your property will get is a critical first step. A great website to get a guide of this is Property Insights which enables you to pop your postcode in, find your property and it will give you a guide of the rental figure. It is critical you have an idea of how much rent you can get, as this will be the key to deciding how big your mortgage can be.

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Let To Buy Repayment Calculator


Let To Buy Mortgage Guides

Should You Get A Fixed Rate Mortgage?

How does a let to buy mortgage work?

How a let to buy mortgage will help you move

Service that’s about smiles not sales

We may be mortgage brokers, but we’re not a bunch of bankers! We are independent which means we only work for you. Our team are incentivised not on sales, but providing the best service for you.



Our Success Rates

(Fourth quarter 2018)



  • We assess
  • You instruct us
  • We research
  • We find the best deal for you


Agreement In Principle

  • You agree to the deal
  • We submit the first stage of your application
  • You get an agreement in principle


Mortgage Offer

  • We submit the second stage of your application
  • We present your application in the best possible manner
  • They assess your situation
  • We support you throughout the process
  • They assess your property
  • You receive your mortgage offer



  • Technically our job is done but we also like to help
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