Mortgage Meadow / Help / Buy To Let Mortgages helpdesk

It has become more common for people when deciding to move home to retain their existing property and rent it out rather than sell it to fund the deposit for the new property. This is referred to as Let to Buy. The lender taking the property to be let will usually assess the mortgage according to their standard Buy to Let criteria. When looking to underwrite the mortgage for the new property, some lenders will not be happy that the existing property is to be let out. Especially as often people will be borrowing more money on the existing property to fund the deposit on the new property. The fear is that if the existing property cannot be let be let for whatever reason, you will be forking out each month for 2 mortgages that you may not be able to afford from your earned income alone. This kind of transaction does require specialist advice from a reputable mortgage broker. Please contact us for further information if you intend to undertake a let to buy transaction. Our experts have a vast amount of knowledge on Let to Buy purchases and can advise you on the best possible terms, rates and deals on the market.

In general Buy to Let mortgages are not regulated by the Financial Services Authority.