Let-to-buy mortgages are regulated by the Financial Conduct Authority (FCA).

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.

Let-To-Buy Mortgages

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 to 85% loan to value.

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The overall cost for comparison is 3.7% APR

The actual rate available depends upon your circumstances.

Ask for a personalised illustration. APR variable and based on a typical case