In the current market many householders do not consider a sale as a sensible option.
Even so they still need to upscale as their families grow, or downscale as their need for space reduces.
With the additional factor of strong rental market, holding an existing to property seems prudent.
As a result the let to buy option, or letting your current home with a view to purchasing another is now becoming commonplace.
By using the let to buy route for your purchase you eliminate a number of key frustrations.
No need to sell current property
No need to accept a low offer
No agents fees to be paid
No time wasted with potential purchasers
No purchase chain to manage
Let to Buy – the complications
Letting out your current property before buying a new one does add complications to the mortgage process.
Lenders have vastly differing attitudes to let to buy.
In fact some some providers will not advance a mortgage for your new purchase at all until you have been renting out your current property for at least six months.
For this reason, it is always better to work with an independent mortgage broker to arrange mortgages when you are considering a let to buy situation.
Your mortgage broker will be able to assist you in raising capital on your current property if required and then advise you on suitable Lenders and products for your new property.
Our independent mortgage brokers are waiting to assist you – contact us now.
