Let to Buy

Mortgages that allow you to let your existing home and buy a new home to live in are often termed “let to buy mortgages”. Let to buy mortgages replace your existing residential mortgage on your home with a buy to let mortgage.

Lenders typically tell us they are seen as higher risk than a traditional buy to let mortgage. The main reason for this is that they require confirmation that you are actually leaving your home and plan to let the property out. Most lenders will require proof of an onward purchase to prove this is indeed happening.

Clients often tell us that some lenders will not consider a “let to buy” scenario at all, whereas other lenders will restrict the amount of borrowing or require a much larger deposit than in a standard situation.

Clients approaching us to arrange a let to buy mortgage are often frustrated, that although their plans makes sense, they have spoken to a number of lenders who will not consider a mortgage for
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