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Let to Buy Mortgages

There are times when moving house becomes problematic and urgent. Maybe, you have a new job and have to relocate quickly. Or an increasing family means that you are short of space and need more room urgently. One way of overcoming these problems is to rent out your current property and buy another one to live in.

With a "Let to Buy Mortgage", we can get you up to a 95% mortgage on your new home at very competitive rates .

A let to buy mortgage works by allowing you to borrow money to buy a new home to move into, while your existing residence is let out to tenants. The new mortgage lender will calculate the maximum that they are prepared to lend you and not take your existing mortgage into consideration as a commitment as long as the rent covers the existing mortgage payment.

A deposit maybe required for the new mortgage however this maybe released from the existing property by remortgaging or a secured loan.

To qualify for a Let to Buy mortgage, please check the following simple rules apply to you;

The rental income achievable for your present property should be not less than 125% of the interest charged on your current mortgage. The new property must be intended as your main residence. A deposit is required as usual (minimum 10%) for your new purchase.

We also have self-certification options available at 85% and 90%.

Call now on 01253 399311.