Let To Buy Mortgage. What exactly is a Let To Buy Mortgage? Many people are confused by the meaning of this, and often mistake it for the renowned Buy To Let Mortgage.

Let Mortgage Chance explain: Let To Buy Mortgage is simply where you own your own current residence, and instead of selling this to purchase your new home, you let it out, and buy and move into your new home. Hence the phrase 'Let to Buy'.

This has several advantages. Firstly by doing this, you will save on legal fees, estate agent fees etc which are payable on the sale of your property.

Secondly you can move into your new home immediately as you do not have to go through the whole process of selling your home. This means that you have no property to sell, and can often give you that added 'armour' when negotiating a price.

Thirdly, which is why many people opt for the Let To Buy Mortgage, is that you will now be the owner of two properties. One in which will be your new residential home, and the second which was previously your residential home, will now become your investment/buy to let property. This can be the beginning of something big for you.

Finally you may need to release some money from your current home in order to purchase your new property. This can be done, and at the same time we will attempt to obtain a more competitive interest rate than you currently have, which will in fact reduce your overall monthly outgoings. Not all lenders accept Let To Buy mortgages, and the way the proposal is positioned is very important. Because of the complexity of this, expert advice is highly recommended, and this is available at Mortgage Chance.

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