Professional Mortgage Advice

Let-to-Buy Mortgages

Discover how to let your property out if you want to buy a new house without selling your current home.

Let-to-buy actually involves having two mortgages: a residential mortgage on a property you're moving to and a buy-to-let mortgage on your previous home (so you can rent it out). You let out your previous home so that you can buy your next one.

You may want to use equity you've built up in your home to enable you to move to a new one, while also keeping the existing home as a long-term investment.

Let-to-buy is quite different to Buy-to-let. With Buy-to-let you're purchasing a property specifically to rent out, whereas with Let-to-buy you're buying a new property to live in yourself whilst renting out your current home.

As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments.

The FCA does not regulate most Buy-to-let mortgages