What is Let To Buy & Why Go Down This Route?
Let To Buy is the process of selling the property you currently live in, in order to afford the purchase of a new one. You may have found your perfect home and do not want to risk losing out on it, or perhaps you are currently unable to sell your property for the right price. Maybe you even wish to buy a new property without selling your current one. Whatever your reasons, you will need a change of Mortgage on both the existing and new properties.
By law, you are not allowed to live in a property that has a Buy To Let Mortgage on it, nor can you rent a property out if it has a residential mortgage on it unless you have the lender’s permission prior to doing so.
In short, embarking on the Let To Buy process is considerably more complex than the that of obtaining a basic residential or Buy To Let Mortgage. So, this is where Hawke Financial Services Llp will be on hand to guide you every step of the way.