Let to buy mortgages

Colour Investments advocates let-to-buy schemes for risk averse homeowners wanting to dip their toe in the market. Homeowners who are nervous about dipping their toe into the buy-to-let market should consider the lower risk let-to-buy option....

The advantage of let-to-buy - renting out your current property and purchasing a new property to move into is that the owner knows all about the property he or she will be renting out, viagra generic cialis canada having lived there themselves, click cutting the chances of the property remaining empty.

Many people are reluctant to sell their current property as they have seen it increase in value over the years and they know that the potential rental income generated from the property could more than cover their monthly mortgage payments.

As they are familiar with the residential area in which their existing property is located, viagra canada they know the strength of rental demand in the area, that the local facilities are good and, having lived in the property, the chances are it is well decorated and in little need of further cosmetic work prior to future tenants moving in. For those who are keen on moving into the Buy to Let sector, Let to Buy is a safe way of getting a "taster" as to how it works.

As long as the rental income from the current property can cover the costs of mortgage payments, there should be no reason why the mortgage on this property cannot be switched to a let-to-buy deal. Then, a residential mortgage can then be taken out on the new property.

Another advantage of a let-to-buy arrangement is that it allows you to remortgage your current property, enabling you to release equity which can fund the deposit on your new home...

Our mortgage partners have a range of products suitable for let-to-buy mortgages. Most products allow you to borrow up to 85% on the property you wish to let out.