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Let to buy
Let to buy is where you change your current home into a rental property in order to buy a new property as your main home. Effectively your existing property becomes a buy to let, allowing your income to be considered for a new mortgage to purchase your new home. Maxwell Moore can advise you on the most effective solution for your circumstances.
Under recent regulatory changes, this process is now referred to as consumer buy to let, which means the remortgage of your old property is now a regulated mortgage contract and you benefit from certain protections that don't apply to standard buy to let.
Much of the assessment of your old property will be similar to that for standard buy to let and you can read about that on our buy to let page.
Generally, interest rates are higher for buy to let mortgages and you will usually only be able to borrow 75% of the property value as a mortgage. Some lenders will consider up to 80% of the value but the interest rates for these products are higher still.
Let to buy can be a complicated process having to coordinate two mortgage applications with possibly two different lenders, ensuring both are aware of the whole process. Maxwell Moore can manage this for you, ensuring you are kept up to date throughout.
Protecting you and your home
We don't just love helping you find the right mortgage, we're passionate about ensuring you can stay in your home. That's why we'll discuss how to protect you and your family in the event of unpleasant things happening; unfortunately the mortgage and bills don't go away even if your income does, and your family won't want to move if you die. Find out more on our insurance page.