Let to buy mortgage

cmorgan091

Hi all,

I am interested in finding a Let to Buy mortgage (no not a typo!), in order to rent out my existing home and release equity to buy a new home to get a homeowner mortgage on.

However Google comes up short on comparing rates for these at it often points me to Buy To Let mortgages.

Are there any comparison sites for Let to Buy's? I can't find details of any of them except in forum results!

Thanks in advance for your help

Regards

Chris

whitewing

http://www.godirect.co.uk/mortgages/let-to-buy-mortgage.php

Haven't used them. I just like to dabble in threads on subjects that I know very little about!

holly_hobby

A Let To Buy (LTB)mortgage is a mortgage secured on your new own main residence, whereby you will still have a mortgage on another property which you are renting out.

My reading of your post, is that you are looking for a mge to release equity from your (current) main residence, which you intend to rent on completion. That is covered by a Buy To Let (BTL) mortgage.

If I read it right, you are thereby looking for

a) firstly a remorgage on your existing property to release equity to purchase your new main residence ? = BTL remge
and secondly ...
b) a 2nd mortgage on a separate/new property which you intend to use as your main residence? = LTB mge

So in fact you actually require one of each .... (if i've understood your inital post correctly !)

Hope this helps

Holly