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).

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