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 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.