Let to Buy
Fish4Mortgage is located in Weston-super-Mare, Somerset & is the area’s leading Mortgage Broker with over 25 years of knowledge in the field. We specialise in many areas including re-mortgages, first time buyers, commercial mortgages, general insurance & secured loans. Explore our website to find out more information & also go ahead & use our Mortgage Calculator to see what deals are available to you.
The process for getting a let to buy mortgage
The majority of home owners re-mortgage their property onto a let to buy mortgage scheme, which enables them to use some of the equity in their property as a deposit for their new purchase.
Generally speaking let to buy mortgage are on an interest only basis which should have the effect of creating a surplus of rental income, the difference between the rent and mortgage payment.
Why go for a let to buy mortgage?
Whilst let to buy will not suit everyone, with the ongoing shortage of housing stock the let property could be a tidy nest egg.
By letting out your property it puts you in a strong buying position which could result in you getting a discount off your purchase, as you are buying without a chain behind you.