Are you ready to move to a new home but don’t want to sell your current property? Let to Buy could be the ideal solution. At Rosa Mortgages, we are experts in helping homeowners unlock the value of their current home by letting it out and using the rental income to help fund their next property purchase.
Let to Buy mortgages are becoming increasingly popular for people who want flexibility, a potential second income, and a smoother move to their next home.
Let to Buy mortgages allow you to rent out your current home while buying a new one to live in. It involves switching your current residential mortgage to a Let to Buy mortgage and simultaneously applying for a new residential mortgage for your new property.
Let to Buy vs. Buy to Let – What’s the Difference?
Let to Buy is ideal for those upsizing, moving to a new location for work, or keeping their existing home as an investment.
Benefit from potential long-term property value increases.
Help cover your mortgage payments or use it towards your new property.
Allows you to move without needing to sell in a potentially slow property market.
Move on your own terms without worrying about property chains falling through.
The Let to Buy process is simpler than many people think, especially with expert guidance from Rosa Mortgages. Here’s how it works:
This allows you to legally let your home to tenants.
The potential rental income from your old home is factored in by lenders to support affordability on your new mortgage.
Lenders will assess both your existing and new mortgages but can use projected rental income to strengthen your application.
With Rosa Mortgages by your side, we’ll guide you through the process and handle the details to ensure everything runs smoothly.
Choosing Rosa Mortgages means you’ll benefit from expert, tailored advice specifically designed for your circumstances.
Expert Knowledge – We understand the nuances of Let to Buy and work with a wide range of specialist lenders.
Personalised Service – Every case is different. We take the time to get to know you, your finances, and your goals.
Time-Saving Expertise – We’ll do the hard work, liaising with lenders on your behalf and managing the process from start to finish.
Stress-Free Experience – Mortgages can be stressful — that’s why we’re here to take that burden off your shoulders.
Let to Buy allows you to rent out your current home while you buy a new one to live in. Buy to Let is purely for purchasing rental properties when you already have a home to live in.
Typically, lenders require a minimum of 25% equity in your current home. For your new home, deposits generally start at 5-10%, depending on your credit profile and lender requirements.
Yes! Most lenders will allow you to use a portion of your projected rental income to strengthen your affordability for the new mortgage.
There may still be options available. Contact us for a personalised assessment of your situation, and we’ll explore the best route for you.
Ready to turn your home into an investment and move into your next property? With Rosa Mortgages, we’ll make the Let to Buy Mortgages process clear, easy, and tailored entirely to your needs.
Contact Rosa Mortgages today for your no-obligation initial consultation.
Let’s get started on securing the right Let to Buy mortgage for you.
