Let to Buy Mortgages

Turn your current home in to a rental property to finance your next home move, get expert advice on Let to Buy mortgages.

What is a let to buy?

A let to buy is where a mortgage borrower remains in possession of their existing residential property and lets it out to tenants in order to fund the purchase of a new residential property, it is essentially the buy to let scheme in reverse, because you already have the property you intend to let out and you are purchasing a new property which you intend to live in.

Why let to buy?

It's difficult to know for sure which option is best for you when you're moving home, in order to help you get a better idea of what to consider when the time comes for you to move, we have made a helpful list of reasons for using a let to buy strategy.


Unfortunately, we don't live in an ideal world where you can put your house on the market one day and have it sold the next, selling your home can take a long time in some cases and if you're desperate to move in to your new home, you can't wait years for your existing property to sell. This situation presents an opportunity for the let to buy, rather than having to wait until your house finally sells, you can buy your new house and begin letting out your existing property to pay the mortgage.

Depreciating property value

Another scenario in which a let to buy scheme becomes a good option is if you would like to buy a new home but are unwilling to sell your house because it has been valued at a price that is an amount lower than what you bought it for, at the same time, the rental income you can generate from your property could be quite good and could be the better option. If the value of your property has declined significantly since you bought it you may consider letting it out rather than returning a loss through selling it.

Property value appreciation

On the other side of property depreciation, there is of course property appreciation. In this scenario, you may be looking to buy a new home but you believe that your current property is likely to rise in value over time and return a profit on its sale, so to avoid losing your current home whilst still buying a new one, you could let out your existing property in order to help with your new mortgage and eventually return a profit.


A popular reason for using a let to buy strategy is relocation; if you are having to relocate due to work commitments or for any reason but you don't want to rule out the option of one day moving back to your previous property, then the let to buy scheme might be a good thing for you to utilise. This is because it allows you to maintain ownership of your current property whilst generating income from it and living elsewhere.