Let to Buy help?

pana37

Hi all im considering letting my house out and remortaging to buy another house to live in.
what good mortagage companies should i look at? ive googled and just getting buy to let NOT let to buy

thanks in advance!

GMS

pana37 wrote: »

Hi all im considering letting my house out and remortaging to buy another house to live in.
what good mortagage companies should i look at? ive googled and just getting buy to let NOT let to buy

thanks in advance!

You will need a Buy to Let mortgage or Consent to Let on current property.

Then look at a purchase mortgage for the new property.

Do you have a deposit for the new property or are you looking to raise this from the current?

If you need a Buy to Let mortgage you will need to make sure you have the ewquity in the current property to allow it to happen

pana37

sorry forgot to mention im mortgage free

GMS

pana37 wrote: »

sorry forgot to mention im mortgage free

Assuming you fit criteria for lenders this should be straight forward. A broker would be able to fo this for you simultaneously, arrange a Buy to Let for the current releasing any cash required for a deposit, and arranging the purchase mortgage.

Personally I would not charge for a transaction like this, as would be the deal with most brokers.

Whole of Market access is important as there are Buy to Let lenders who will deal only with brokers. Impossible to say if one of these would be best for you as I do not know your circumstances but better to have access in case it is.

If you were to do it yourself you would be arranging 2 mortgages which you may find a hassle. Broker would do both making life much easier for you