You’ve found your dream home, but yours still hasn’t sold. Let-to-buy helps you use the equity in your existing home to remortage it and release cash for a deposit on the dream home. You then rent out your current home and use the income to pay the mortgage while you get a new mortgage for your new place. You’ll then have two mortgages with the same lender.
Typical lending criteria
If let-to-buy sounds like an option for you, your first steps should be to talk to a mortgage broker (many let-to-buy lenders will only deal with a broker) and at least three letting agents to get a realistic figure of how much rental you could achieve on your current home.
Then you’ll need to find your dream home. North Stoneham Park is a perfect location if you’re looking for a sound investment with great build quality. Take a look at the Park’s homes pages to find a home that matches your needs – the two-bedroom Radley at Homewood Park is an affordable, spacious and stylish house that’s proving very popular with buyers. The Radley on Plot 163 is our Featured Home and comes with a number of exciting incentives and a sale price of £307,000.
For more information, contact the Park’s recommended financial advisors, Mortgage Advice Bureau, on 01252 710000.