Let-to-Buy Mortgage | Move Home and Keep Your Current Property. Are you ready to move but not quite ready to sell your home? A let-to-buy mortgage could be the answer. It allows you to remortgage your current property as a rental and use the equity to purchase your next home.
At Connect Mortgages, we’ve been helping clients achieve this balance for over 25 years. With access to over 200 lenders and a network of more than 300 qualified advisers, we offer expert guidance tailored to your situation.
What Is a Let-to-Buy Mortgage?
A let-to-buy mortgage allows you to rent out your existing home while securing a new residential mortgage for the property you plan to move into. This process involves switching your current home loan to a buy-to-let mortgage and using the released equity as a deposit for your next purchase. It’s an ideal solution if you want to keep your property as a long-term investment, generate rental income, or need to move before your current home sells. Let-to-buy offers flexibility for homeowners who want to relocate without selling and to benefit from owning two properties.
Here are some useful pages to explore:
Explore our Buy to Let Mortgage options
Learn more about remortgaging your current home
Speak to a let-to-buy mortgage expert
Who Can Apply for a Let-to-Buy Mortgage?
You may qualify if:
- You already own a residential property.
- You want to buy a new main residence.
- You can demonstrate affordability for both mortgages.
- You have at least 25 per cent equity in your current property.
- Your credit score meets the lender’s requirements.
Our experienced team will conduct an affordability check and help you understand your borrowing capacity across both properties.
How Does Let to Buy Work?
- Remortgage your current home to a let-to-buy mortgage.
- Use the released equity as a deposit for your new home.
- Take out a standard residential mortgage on the new home.
- Let your existing property to tenants, using the rental income to cover repayments.
We’ll guide you through every step, including rental stress tests and lender conditions.
Learn more about Remortgage options
Let-to-Buy vs Buy-to-Let: What’s the Difference?
While both involve rental properties, the key difference lies in intent:
- Let to buy lets you rent your current home while you move.
- Buy-to-let is used when purchasing a property solely to rent it out.
Many of our clients use a let-to-buy to step into property investment or retain property in a rising market. Learn more about Let-to-Buy vs Buy-to-Let.
Benefits of Let to Buy Mortgages
- Avoid selling in a slow market.
- Start generating rental income.
- Access competitive mortgage rates from specialist lenders.
- Potential capital growth on two properties.
We work with specialist let-to-buy lenders and can advise on options that suit both first-time landlords and experienced property owners.
Considerations and Mortgage Compliance
Mortgage lending is regulated, and lenders will assess:
- Your personal income.
- Rental income forecasts.
- Credit history and outstanding debts.
- Your ability to manage two mortgage payments.
As a regulated firm authorised by the Financial Conduct Authority, we provide advice that’s tailored, fair, and in line with mortgage market regulations. We also guide you on responsibilities as a landlord, including insurance and tax implications.
Why Choose Connect Mortgages?
- Over 25 years of experience in specialist lending.
- Personalised advice from a qualified mortgage adviser.
- Access to exclusive let-to-buy mortgage deals.
- Fast response and support throughout your journey.
Ready to Get Started?
Let’s make your move happen without letting go of your current home. Speak to a let-to-buy mortgage broker today for free advice with no upfront fees.
Thank you for reading our “Let-to-Buy Mortgage Broker | Connect Mortgages UK” publication. Stay “Connect“-ed for more updates soon!
