Adverse credit
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Adverse credit
Let to buy is when you move/ purchase a new home whilst retaining the current property, which will be rented. The new property can be obtained on a residential mortgage. The existing property needs to be converted to a Buy to Let mortgage, although it can be maintained on a residential mortgage for a short period (under 1 years). Remember that legally you can only have one residential mortgage at one time (see - the difference between residential and Buy to Let mortgages)
Use our Lender comparison service to find the best deal
When would you use a Let to Buy mortgage:
1. When sale of current property is incomplete before purchasing the new property.
2. When it is not financially viable to sell the current property, e.g. negative equity, downturn in the market.
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