Let to Buy Mortgages Manchester
Thinking about moving to a new home while renting out your current property? A Let to Buy mortgage can be the perfect solution. This type of mortgage allows you to let out your existing home and secure financing for a new property, giving you the best of both worlds—earning rental income while purchasing a new home. Our expert advisors are here to guide you through the process and find the best Let to Buy mortgage for your needs, all with 100% fee-free service.
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What is a Let to Buy Mortgage?
A Let to Buy mortgage is a unique financial solution that allows you to rent out your existing home while purchasing a new property. This option is ideal for homeowners who want to move without selling their current property, as it enables you to turn your home into a rental investment. The rental income can be used to support the mortgage payments on your existing home while you take out a new mortgage for your next property.
Let to Buy mortgages are increasingly popular with homeowners looking to build a property portfolio or those who may need more space without wanting to sell their home. Our advisors will work with you to secure the best mortgage deals, ensuring both your current home and your new property are financially manageable.
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How Does a Let to Buy Mortgage Work?
With a Let to Buy mortgage, you essentially convert your existing home into a rental property while securing a new mortgage for the home you’re moving into. The process begins by remortgaging your current property as a Buy to Let, which allows you to release equity to help fund the deposit on your new home. The rental income generated from your first property is used to cover the mortgage payments, while you manage the new mortgage for your next home.
This process works well if you have enough equity in your current home and want the flexibility to keep it as an investment property. Lenders will assess factors such as rental income potential, your personal finances, and affordability when considering Let to Buy applications. Our expert team will guide you through each step, ensuring the process is smooth and tailored to your goals.
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51 Customer Reviews
Excellent Service
Excellent service from David, he secured my remortgage deal 2 years ago and he is always very helpful. He went above and beyond to get the best deal for me for my current mortgage and is always there to reassure me and offer advice and the best deals to go with.
Nicholas Ward
Call Us On 0161 710 2587
Email Us At enquiry@searchmortgagesolutions.co.uk
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