Mortgages for let to buy properties
There are a number of products and lenders in the market suitable for Let to Buy arrangements. A lot of the time we will be able to find a lender that offers the most favourable terms for both the new Buy-to-Let mortgage on your existing property and the residential mortgage for your new home, and in fact, a few mainstream lenders now have specialist packages for a Let to Buy scenario. However, just as often we will have to source separate lenders and mortgage products for each transaction and then exercise careful management to make sure the processes run smoothly and the timing for completion for both properties coincides perfectly.
You could be an experienced landlord or a first-time Buy-to-Let investor – the assessment criteria used by lenders to judge your creditworthiness and affordability for a Let to Buy mortgage scheme will be the same as for a residential or a Buy-to-Let mortgage. But the calculations on both become intertwined when it comes to your income and outgoings.
Terms and deals offered by lenders frequently shift according to changes and competition within the market, so it’s worth taking advantage of a free consultation with an expert mortgage advisor to ensure you have a choice from all the products available when looking for the most suitable deal to meet your needs.
Due to the more complex, finely balanced process, we are a lot more involved than for a typical mortgage arrangement, and our input is vital. However, our advisers are well-versed in all matters around Let to Buy mortgages, and will be happy to guide you through each step to make sure your plans for your properties have the greatest chance of success. If you want to find out more about Let to Buy mortgages, and how they could work in your individual circumstances, please feel free to contact our team.