What is let to buy?
A Let to Buy Mortgage allows you to purchase a new home to live in while keeping ownership of the one you have now.
Most people will sell and buy simultaneously when moving home. But there are several scenarios where a let to buy scheme could be helpful:
- You need to move home and want to keep your existing home as an investment
- You want to move home without the stress of the property chain, you can move when you choose to
- You are finding it difficult to sell your current home but still wish to move
Let to Buy is more of a lending scheme than an actual type of mortgage. You will end up with 2 mortgages once the let to buy process has completed, one on your current home (buy to let mortgage) and one on your new home (residential mortgage).
HOW CAN WE HELP?
Choosing a mortgage is an important financial decision and it’s easier with someone who’s on your side. We work as a whole of market mortgage broker so that you get the best possible choice of mortgages.
DRAKE MORTGAGES ARE EXPERT BUY TO LET MORTGAGE BROKERS
We are experienced whole of market brokers who can help you get a great holiday let mortgage.
We can also give you access to exclusive schemes and some specialist lenders who don’t deal direct with borrowers. Loans are available to individuals and SPV’s upto 75% and we can help with Scottish properties, mixed use, multi-lets and Airbnb.
Bridging loans are one of the most useful, multi-purpose, types of lending solutions available. You can get a bridging loan approved on almost any property for almost any reason. Great for auction purchases or snapping up a buy to let bargain.
And we can arrange them really fast.