Let to Buy
A let to buy mortgage is as simple as it says on the title, it’s where you let out the current property you’re living in, to purchase a new one that you want to move in to. It’s becoming an increasingly popular way of doing a mortgage, it’s as easy as purchasing an additional property to let out, you’re just deciding which property has the let mortgage.
Frustrated sellers are taking this option, as it gives them the happiness of purchasing their new home, and ensuring their current mortgage on the property they’re having is being paid by having tenants move into.
Let to buy mortgages overcome the problem of a client selling their property and purchasing a new one, effectively, removing the possibility of having a chain when purchasing their new property. It also eliminates an incredible amount of time of looking for a new home and ensuring your sells in time, because you can let it out the same time as purchasing your next property.