Let To Buy & Consent To Let
Are you considering your Let-to-Buy options? Samuel James Mortgages can help you choose the best option.
Let To Buy
If you’re thinking about moving house but don’t want to sell your current property, Let to Buy could be an option for you.
Let to Buy essentially involves having two mortgages at the same time. You convert your existing mortgage to a Buy to Let mortgage so you can let out your current home, and then take out a standard residential mortgage on the home you’re buying.
There are various considerations and potential complications with Let to Buy, including the costs and challenges of becoming a landlord and the need to manage two mortgages. However, it can be a great way to free up some extra monies to put towards your new home.
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Speak to us today if you’re considering your options!
Consent To Let
Consent to Let is an agreement from your current mortgage lender that allows you to rent out your residential property without switching to a buy-to-let mortgage. This can be useful if your circumstances change—such as relocating for work or moving in with a partner—but you're not ready to sell your home. It’s important to get your lender’s permission, as letting out your property without consent could breach your mortgage terms. At Samuel James Mortgages, we can guide you through the process and help you understand if Consent to Let is the right option for you.
