Letting your current home
The home you are moving out of is let out under a regulated Consumer Buy to Let mortgage. Lenders look at the rent you can achieve and your circumstances, and your existing lender may need to agree.
Read common questions ↓← All mortgage services
Let to Buy
Keep your home. Buy your next one.
If you want to let out your current home while you move, Let to Buy can make that possible. It is a regulated Consumer Buy to Let mortgage on the home you are letting, arranged alongside the mortgage on the home you are buying.
Start with your plans.
Tell us what you want to achieve. We’ll explain what we need to understand your circumstances.
- Letting your current home
- Buying your next home
- Consent and costs
Support that fits your situation
Your options, explained.
Buying your next home
A separate residential mortgage is arranged for the home you will live in. Lenders consider your income, your commitments and the rental income from the home you are letting.
Read common questions ↓Consent and costs
Check what your current lender allows, any early repayment charges, and the tax and legal points that come with becoming a landlord, before you commit.
Read common questions ↓Before you proceed
Look beyond
the headline rate.
We’ll help you understand the overall costs and practical considerations. Advice and availability depend on your circumstances and the lender’s criteria.
- Whether your current lender will agree to you letting the property, and any early repayment charges.
- The rent the property could achieve compared with the mortgage payments.
- Your income and commitments, which lenders look at for both mortgages.
- The deposit and equity available for the home you are buying.
- Tax and legal responsibilities as a landlord. Seek independent tax and legal advice where needed.
Regulated lending
A regulated mortgage.
Consumer Buy to Let
Let to Buy on a home you previously lived in is a Consumer Buy to Let mortgage, which is regulated by the Financial Conduct Authority. Pure Capital Limited is authorised and regulated by the FCA (firm reference number 957322), and its permissions include advising on and arranging Consumer Buy to Let mortgages. We must recommend a mortgage that is suitable for you, and you can complain to the Financial Ombudsman Service.
Not the same as standard Buy to Let
A standard buy to let mortgage on an investment property is generally not regulated by the FCA. Your property may be repossessed if you do not keep up repayments on your mortgage. We explain which rules apply to your case, and any fees and commissions, before you proceed.
Make room to plan
Start with an illustration.
Use our calculator to explore the numbers, then speak to us about your individual circumstances. Results are estimates, not a mortgage offer or advice.
Common questions
Understand the detail.
Let to Buy
What is Let to Buy?
Let to Buy is where you keep your current home and let it out, rather than selling it, while you buy another property to live in. The two properties are normally financed separately.
How does Let to Buy usually work?
Commonly, the existing home is moved onto a mortgage that allows it to be let, and a new residential mortgage is arranged for the next home. Lenders look at the rental income, your income, your deposit and how both mortgages fit together. The exact steps depend on your circumstances and the lenders involved.
Is a Let to Buy mortgage regulated?
Yes. A Let to Buy mortgage on a home you previously lived in is a Consumer Buy to Let mortgage, which is regulated by the Financial Conduct Authority. Pure Capital Limited is authorised and regulated by the FCA (firm reference number 957322) and its permissions include advising on and arranging Consumer Buy to Let mortgages. This is different from a standard buy to let mortgage on an investment property, which is generally not regulated. Your property may be repossessed if you do not keep up repayments on your mortgage.
Do I need my current lender's permission to let my home?
Usually, yes. Most residential mortgages do not allow you to let the property without the lender's agreement, so you may need consent to let or to move onto a suitable mortgage. Letting without permission can breach your mortgage terms.
Will a lender consider both mortgages together?
Often, yes. Lenders usually assess your overall income, commitments and the rental income from the let property when considering the new residential mortgage. Criteria differ between lenders.
Will I pay any early repayment charges?
If you move your current home to a new mortgage during an existing deal, an early repayment charge may apply. We look at the cost of leaving a deal early alongside the other options available.
What about tax and legal considerations?
Becoming a landlord brings responsibilities and tax implications, including tax on rental income and, later, on any gain if you sell. Please seek independent tax and legal advice. We do not provide tax advice.
What documents are usually required?
Typically proof of identity and address, evidence of income, details of your current mortgage and property, an estimate of the rent you could achieve and details of the property you are buying. Lenders vary.
Why should I use a mortgage adviser for Let to Buy?
Let to Buy involves two mortgages and different lender rules for each. Advice helps you understand the options, the regulation that applies and the overall cost before you commit.
Your property may be repossessed if you do not keep up repayments on your mortgage.