We source competitive whole of market let to buy mortgage rates for landlords looking to rent out their current residential property and move to a new home. We’ll ensure you are able to obtain the largest let to buy mortgage on the best rate possible; our experienced team only work with buy to let mortgages and landlords so we understand your needs and the products available in the whole market – including those with specialist lenders not available directly. Interest only is often available because most of these deals are treated in the same way as an investment or buy to let mortgage where the payments will be covered by rent.
[note class=”accept”]There are many issues to think about from rental assessments on your current home to how much deposit you would ideally need to raise from your rental property (and old home) to purchase your new home. Why not call free now and discuss your requirements with one of our consultants? We’ll let you know where you stand with no obligation in one of our fast, no hassle telephone advice sessions.[/note]
Advantages of Our Let To Buy Service
- Fast, no obligation advice on the telephone.
- Experts in let to buy mortgages.
- Best rates sourced from the whole market.
- We manage your application – no hassle.
- Remortgage as a Buy to Let to raise money for your new home.
- No need to have a tenant lined up – we can work from estimated rent.
Why Sell When You Can Let to Buy?
With many areas seeing depressed demand for property it makes sense to consider whether it’s better for you circumstances to let out your old home instead of selling before you move to you new home. You can raise money on your old home if you need a deposit. There is no need to find a tenant in advance, we can work with the estimated rental value of your existing home and remortgage it straight away for you freeing up capital to move.
Let to Buy Mortgage Nationwide
A let to buy mortgage is understood by most people to mean remortgaging your existing home as a buy to let mortgage enabling you to raise money and buy a new home with a conventional mortgage. Lenders view this differently with some calling the buy to let remortgage a ‘let to buy’ and the new purchase viewed as normal and others simply view the remortgage as a buy to let remortgage and the new purchase as a ‘rent to purchase’. As a result of this slightly conflicting use of terminology it’s best to think of the whole transaction as a ‘let to buy’ and the remortgage of your existing home as a buy to let remortgage to enable you to purchase a new home. This avoids any confusion when discussing your plans with lenders and advisers.
Let to Buy Mortgage Advice
The buy to let remortgage part of the transaction will usually not be regulated by the Financial Services Authority, however the purchase of your new home will be. If you want to use the same advisor for both parts of your transaction you will need to ensure they are Authorised and Regulated by the Financial Services Authority. With many people needing either 85% or 80 ltv you may need to move from your residential lender to a new lender as they may not grant consent to let at such a high loan level.
You should seek whole of market, independent advice in order to obtain the best rent to purchase mortgage deals from an adviser who is both Regulated and preferably specialises in buy to let and let to buy transactions. Many specialist lenders will not be available to all advisers which with the highest loan to values and the most flexible terms often available through these lenders only means you could be missing out if you don’t have access to their products.
Why not fill in our short form and get some fast, no obligation advice. We’ll explain what steps you need to take to get your plans to move home off the ground.