Applying for a let-to-buy mortgage is easy. Simply complete the quick enquiry form below and our team will search over 90 lenders, with rates exclusive to us.
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Our advisors are available Monday-Friday 9am to 8pm and Saturday 9am-3pm, giving you plenty of opportunity to seek a quick overview of what your mortgage deal could potentially look like.
You will be matched to an advisor who will answer your questions, queries and provide quality advice for your personal circumstances and the specific mortgage product suited to you.
Let-to-buy is when you rent out your existing home and buy a new one to live in. Essentially, it involves having two mortgages at the same time. You convert your existing mortgage to a buy-to-let mortgage so you can let out your current home, and then take out a standard residential mortgage on the home you’re buying.
There are various considerations and complications with let-to-buy, including the costs and challenges of becoming a landlord and the need to manage two mortgages.
There are a number of reasons you might be considering let-to-buy. Perhaps the most common is that you want to use equity you’ve built up in your home to enable you to move to a new one, while also keeping the existing home as a long-term investment.
Let-to-buy could also be suitable for homeowners in the following situations:
When switching to a buy-to-let mortgage, your eligibility will be based on how much rental income you can bring in from the property you’re letting out, rather than how much money you earn.
Let-to-buy and buy-to-let might sound similar, but in reality they’re very different. With buy-to-let, you’re purchasing a property specifically to rent out, whereas with let-to-buy you’re buying a new property to live in yourself and renting out your current home.
Let-to-buy has lots of moving parts, so it’s highly recommended that you seek advice on your options from a whole-of-market mortgage broker.
As well as finding you the right buy-to-let and residential mortgages, a good broker will be able to manage the process from start to finish, helping to ensure you can complete both mortgages simultaneously.
Finally, many buy-to-let mortgages are only available through brokers rather than directly from lenders, so a broker may be able to access deals you won’t be able to get on the high street.
We would just like to thank you for all the hard work and time you have spend over the last few months arranging us a new mortgage deal. We will save so much. We are very thankful for securing us our first mortgage and enabling us to buy our lovely family home we will be forever grateful. Thank you for all the phone calls, emails and answering any questions I had when re mortgaging, you made the process quick and easy.
Thanks, the move went well and we are now surrounded by boxes but excited about starting the next chapter of our life in the new house. Marianne and I would like to say a huge thanks to you for your help in arranging this mortgage and will be recommending you to all our friends. It really has been a lot easier having professionals like yourselves managing the process.
Just want to say a massive thank you for helping us buy our dream home, you made the whole mortgage application stress free! We got a brilliant deal, which was fully explained and we were kept informed throughout every step of the mortgage application journey. Whilst the mortgage application was being approved, they also sorted our insurance policies and completed a re-mortgage on another property.. absolutely brilliant service!
Your team have gone above and beyond to help me and my partner get our first house. I am so impressed by how helpful and understanding they have been throughout the process. I spoke with you on the off chance during my search for a mortgage and less than a week later we had an offer accepted on a house. Me and my partner were pretty clueless when it came to the mortgage process but thanks to the team we have now completed on our first perfect home.
Just thought I’d drop you a quick email to say thank you for your wonderful service and helping us out massively in purchasing our first home together in Ashton. We couldn’t have done it without you and you explained everything so well and made sure we had a good understanding. Thank you again! And if we ever need more advice expect to hear from us!!
Representative Example: If you borrow £15,000 over 10 years. Initially, on a fixed rate for 5 years at 5.10% and for the remaining 5 years on the lender’s standard variable rate of 5.05%, you would make 60 monthly payments of £184.29 and 60 monthly payments of £185.99. The total amount of credit is £17495; the total repayable would be £22,216.80 (this includes a Lender fee of £995 and a broker fee of £1,500). The overall cost for comparison is 8.8% APRC representative.
Rates between 3.4% to 29.% APRC. Repayment terms between 3 and 30 years.
As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments.
Think carefully before securing other debts against your home
If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.