| Not to be confused
with buy to let mortgages, let to buy mortgages are designed for those who wish
to rent out their current home and buy another property elsewhere. It is often
very difficult to sell a property as quickly as one would like, and this type
of mortgage allows you the freedom to move into a new property investment without the necessity
of selling your previous property. The rent derived from the tenants of your rented
property will cover the mortgage on your new home; it’s as simple as that.
With a let to buy mortgage you will need to make sure that the rent that you
will be able to receive from the property is about one and a half times the mortgage
repayments that you will need to make on your new property. Let to buy mortgage
lenders will usually insist on this because it will ensure that you will have
enough income to repay your new mortgage even if your tenants don’t keep
up their rent payments.
• Bad credit mortgage
• Buy to let mortgage
• Cashback mortgage
• Flexible mortgage
• Let to buy mortgage
• Remortgage
• Tracker mortgage
• 100% mortgage
|
