Let To Buy Mortgages
Complex let to buy mortgage solutions from the experts
When it comes to Let To Buy Mortgages, it can be a complex process with potentially multiple transactions taking place. Rest assured, we are experts when it comes to this, and we will hold your hand every step of the way.
Common Let to Buy Mortgage Questions
A Let to Buy Mortgage can be a comple process and if you are planning to keep, rent your home out, and raise a mortgage for an onward purchase, you’ll probably have lots of questions and lots to consider. If you have a question that isn’t answered here, please just ask.
Do you have a question about a let to buy mortgage?
What is a Let to Buy Mortgage?
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 intertwinded. In a nutshell, both mortgages have to be very carefully managed.
A let to buy is a complex scenario and its vital to work with experienced mortgage brokers who are used to these scenarios.
How does a let to buy mortgage work?
What is the<br /> difference between a let to buy and buy to let mortgage?
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.
- 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
- 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
- We liaise with solicitors and estate agents
- We keep you updated
- You achieve your goals