Let To Buy Mortgages (UK)
Please read our guide below for further information on 'let to buy mortgages' or click on the link in order to be taken to our main website:
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Name – Let To Buy Mortgages
First name: Let To Buy Mortgages
Last name: Let To Buy Mortgages
Nick name: Let To Buy Mortgages
GUIDE
A let-to-buy mortgage works simply by allowing you to borrow a lump sum of money (secured against your existing property) in order to buy a new home to move into whilst renting your existing property to tenants. The resulting rental income can then be used to cover or offset your existing monthly mortgage repayments.
Let-to-buy mortgages are mainly used by people who need a quick release of equity from their property in order to go forward and purchase a new property. The house buying / selling process can be rather slow at times if you are involved in a chain and let-to-buy mortgages are ideal for people looking to swiftly relocate through work or where a larger home is required if they are starting a family.
The following are other popular reasons why people chose Let To Buy mortgages:
* Enables a quick release of equity form the property whilst maintaining a hold within the property market
* Allows you to continue building the equity in your existing home as an investment whilst the tenants pay rent to cover or contribute towards your monthly mortgage payments
* Kick-starts the building of a property portfolio for investment / pension purposes
* If you are relocating with work on a short to medium term it will provide you with the flexibility to move back to your home area.
This type of arrangement can provide you with a good alternative to buy-to-let and be arranged with a smaller deposit which proves very popular with some homeowners.
Let-to-buy mortgages can be arranged on a self-certification basis to 90% loan to value or 95% loan to value with proof of income.
Call us today for free advice on Let To Buy Mortgages.
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