Let to Buy Mortgages

Transitioning from homeowner to landlord. Let-to-buy mortgages simplify the process.

What are Let to Buy Mortgages?

A let-to-buy mortgage is a type of mortgage that enables homeowners to convert their existing residential property into a rental property while simultaneously purchasing a new home to live in.

This arrangement is commonly used when homeowners want to move to a new property but also want to retain ownership of their existing home as a rental investment.

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Here's how they work...

Existing Property: With a let-to-buy mortgage, you first convert your current residential property into a rental property. This means you rent it out to tenants and become a landlord.

Purchase of New Property: Simultaneously, you use the let-to-buy mortgage to finance the purchase of a new home that you plan to live in. This may involve a new residential mortgage.

Renting Out Existing Property: The rental income from the property you used to live in helps cover the mortgage repayments on that property. It’s important to ensure that the rental income is sufficient to cover the costs.
New Residential Mortgage: You secure a new residential mortgage for the property you intend to live in, similar to a standard mortgage.

Financial Considerations: Let-to-buy mortgages may require a higher deposit and come with specific terms and conditions, as they involve both a residential and a buy-to-let aspect. You must also consider tax implications related to rental income.

Your solution in moving home whilst maintaining your current property

Let-to-buy mortgages are a solution for homeowners who wish to move to a new property but don’t want to sell their current one. This arrangement allows them to keep their existing property as a rental investment while financing their new home.

It’s important to carefully consider the financial implications, including rental income, mortgage costs, and potential tax obligations when entering into a let-to-buy arrangement.

Why our customers recommend GoMortgage
Take a look at our Google reviews
Ogbonge AfricanMama
Ogbonge AfricanMama
2023-10-11
I reached out to Chris on facebook after i stumbled on one of his reels, i wasn't expecting anything positive from Facebook as i had been previously turned down by two major Mortgage Advisers. Natalie and Shirley took up my case and in a short while got me a high street lender despite the price of the property been raised by 20%. They carried me along all through the process and i was never left in the dark. I am a single parent , first time buyer and first time landlord. They also helped me get the right Legal Advisers and Insurance. I highly recommend their services. Thank you Natalie and Shirley. BR Gina
Chris Days
Chris Days
2023-10-03
Amazing service
Graham Nicholls
Graham Nicholls
2023-09-18
Rhiannon supported us throughout the mortgage application process. Very friendly, supportive, and knowledgeable. Highly recommended.
Calum Hayward
Calum Hayward
2023-09-07
Absolutely brilliant service! I cannot fault Chris, Natalie and Shirley. They got us our dream home and supported us through the entire journey! Thank you!
Meg Talbot
Meg Talbot
2023-08-11
We always thought buying our first house would be stressful, when we found this company through a few Facebook videos we thought we would enquire. Rhiannon got in touch with us and she talked us through the whole process and sorted so much for us! I would not recommend anyone else she has been amazing and we can’t thank her enough.
benjamin lee
benjamin lee
2023-07-25
After seeing Chris days facebook reels I got in touch with gomortgage and was contacted by Laura who took some details of what I was wanting .Laura provided an outstanding service and nothing was to much even down to final details she explained everything and chased up the lender looking forward to doing buisness again in the near future. 5 star service would not hesitate to pass details on to any family friends etc
Meritxell Humbert
Meritxell Humbert
2023-06-30
Very professional service, from the early beginning until the purchase is completed. Valuable and frequent updates to keep me up to date on the purchase process. Would recommend 100%
Russ Bury
Russ Bury
2023-06-02
Chris and Shirley made getting my first mortgage so easy and quick. A very professional, friendly and personal approach. I would recommend them and Go Mortgage to anybody. Easily 5 star service. Thank you. Russ
Anita Winters
Anita Winters
2023-05-31
Chris and Shirley have been so good in helping us secure a mortgage and guide us through to completion. Always ready to answer any questions we had and very responsive in correspondence. Would highly recommend.
Numan Ashequl
Numan Ashequl
2023-05-17
We have been very stressed about our housing situation. We came across Laura Thompson. She went above and beyond to support our requirements providing an informative but tailored service for me and my family. We were able to contact her almost any time and she was delightful to talk to. We really appreciate all she has done. Really a great service from Laura outstanding professionalism. Thank you so much to go mortgage and to LauraThompson!!