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Let to Buy Mortgages

Let to Buy mortgage advice

Let to Buy is process that helps you purchase a new home while keeping possession of your current property and letting it out. Let us help you in this journey.

Why choose a Let to Buy mortgage ?   

There are several reasons why you may want to consider a Let to Buy mortgage:

  • Capital appreciation. A Let to Buy mortgage allows you to keep your current home as a long-term investment and benefit from any future increase in its value.
  • You want to move in with your partner and you each own a property. In this case, you could both move into one of the properties and rent the other one out using a Let to Buy mortgage.
  • To speed up moving to a new house. You found your dream house and you don’t want to be tied up in a chain or wait for a buyer. You can remortgage your current property with a Let to Buy mortgage and potentially use the money for your deposit towards your new house.
  • You may want to have the option of being able to move back into your old property one day. Let to Buy is popular with those who are relocating for work and want to purchase a property in their new location, but don’t want to rule out moving back.

Whatever your circumstances may be, with a Let to Buy you can remortgage and then let out your existing home and use the rental income to cover the cost of the mortgage, allowing you to take out another mortgage on your new home.



Why choose us?

Whole of market broker

We will research thousands of deals and over 90 lenders to find you the right mortgage

Independent mortgage advice

Our advice is tailored to your circumstances and requirements, always serving your best interests

5 star reviews

We provide honest and unbiased advice and our clients' feedback is a true testimony of that

Local broker

Your dedicated broker will be your point of contact through the entire mortgage process

What you need to consider:

Let to Buy mortgages can be more complex than standard residential mortgages or Buy to Let mortgages. This is because you need to apply for both a Let to Buy and residential mortgage and to ensure that they both complete on the same day ideally. This is where we can help!

Some things you need to know about Let to Buy mortgages: 

  • You’ll need to have a decent deposit or amount of equity in the house, with lenders usually requesting a loan to value (LTV) of 75%.
  • You will also need to show that the expected rental income is acceptable for the new lender as they will want to see you can account for rental voids and maintenance costs. It may be a good idea to speak to local letting agents to get an idea of the monthly rents for similar properties in the area.
  • Consider the implications of being a landlord such as insurance responsibilities, property maintenance but also tax and legal implications.
  • You will have to pay a stamp duty surcharge when you buy a second property so ensure this has been factored into your calculations.


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Help with Let to Buy mortgages

When proceeding with a Let to Buy, the rental mortgage and the new residential mortgage are both arranged at the same time. Seeking advice from an experienced mortgage broker like Fairview Financial is important in managing a complex process like this. We have great expertise in this area and we will offer you guidance and support from application to completion.

We are a whole of market mortgage broker who will search thousands of deals to find you the right let to buy mortgage option. Not all lenders are happy to lend on a Let to Buy basis and some of those that do will only deal with brokers, not directly with customers.

Fairview Financial guarantees honest and unbiased advice. Our professional service has received exceptional feedback from numerous satisfied clients. We are based in the heart of the Cotsowlds, with our office conveniently located on The Promenade in Cheltenham but we operate throughout the whole of the South West so wherever you may be we can offer a personal service tailored to your individual requirements.

YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBTS SECURED ON IT. SOME FORMS OF BUY TO LET MORTGAGES ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.

Can I get a Let to Buy mortgage? Let's discuss your options

Speak to an adviser now or let us call you back.

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Fairview Financial Ltd is an appointed representative of The Right Mortgage Limited, which is authorised and regulated by the Financial Conduct Authority. Fairview Financial Ltd is registered in England and Wales no: 10912424. Registered office: 107 Promenade, Cheltenham, GL50 1NW.

The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.

@ 2020 by Fairview Financial

Our Fees        

A fee may be charged for mortgage advice. The exact amount will depend on your circumstances.

Our standard fee for mortgages is £395 and this is paid when the mortgage is offered. We charge a fee of £295 First-Time Buyers. Other fees may apply depending on the complexity of the work involved or loan amount. The maximum fee we can charge is £795.

Our standard fee for Equity Release is £895 and this is paid on completion.

We also receive a commission from the lender that will vary depending on the lender, product or other permissible factors. The nature of any commission model will be confirmed to you before you proceed. If we receive a commission, this will not affect the cost payable by you.

THINK CAREFULLY ABOUT SECURING OTHER DEBTS AGAINST YOUR HOME.

YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBTS SECURED ON IT.

BUY TO LET MORTGAGES ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.

EQUITY RELEASE: THIS IS A LIFETIME MORTGAGE. TO UNDERSTAND THE FEATURES AND RISKS, PLEASE ASK FOR A PERSONALISED ILLUSTRATION. CHECK THAT THIS MORTGAGE WILL MEET YOUR NEEDS IF YOU WANT TO MOVE OR SELL YOUR HOME OR YOU WANT YOUR FAMILY TO INHERIT IT. IF YOU ARE IN ANY DOUBT, SEEK INDEPENDENT ADVICE.


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