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Mortgage Advice & Financial Advice - Mortgage Types Let To Buy - Mortgages & Advice
Let To Buy
Let to buy is a situation where a homeowner wishes to purchase a new home to live in and rent their existing property out to tenants.

Let To Buy

Mortgage Advice - Let To Buy

Let To Buy

Let to buy is a situation where a homeowner wishes to purchase a new home to live in and rent their existing property out to tenants. This would mean changing your existing residential mortgage to a new buy to let mortgage.

With the credit crunch bringing a decline to house prices, buying to let has become a popular option for those seeking to upgrade their home without selling their current home at a lower value. It is also an option for those who have strong attachment to their home and do not wish to sell but need to move on.

Trust Financial Solutions can help take the confusion out of the let to buy process.


Mortgage Advice - Let To BuyBuying To Let* might be worth considering if you would like to build a portfolio of investment properties or if you would like to move but have found you have little or no equity in your current home. In order to do this, you will need to change your current residential mortgage to a Buy To Let mortgage. Essentially, Buying To Let* allows you to wait until the housing market increases in momentum, hence gaining more profit if you do eventually choose to sell. If you let out your home with an existing mortgage on, you will need "consent to let" from your existing lender.

Let to buy should not be confused with buy to let.
A Buy To Let* Mortgage is required to purchase a new home which is then rented out.
A Let To Buy Mortgage is required if you wish to rent out your current home in order to raise capital to purchase a new residential property.

We have access to a panel of mortgage lenders representative of the whole of market and therefore can look at a range of options for you. Because of the minefield of information out there, finding reliable information and advice on let to buy mortgages can be a very frustrating process.


Disclaimer - Note


YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

*In general, Buy To Let Mortgages are not regulated by the Financial Conduct Authority

We will charge a broker fee of between £299 and £499, payable on application. The amount we will charge is dependent on the amount of research and administration that is required.


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Should you need help or understanding about these different mortgages, please call Trust Financial Solutions for expert advice and help and reassurance on which one is right for you. We simply aim to give you the ability to buy your home with peace of mind and to live the lifestyle of your choice.

Trust Financial Solutions can assist you in finding the right mortgage for you. We offer a confidential one-on-one service that can take the guesswork out of mortgages and help to guide you through the process from start to finish. This is what we do best and we look after you every step of the way.


  • We match your personal situation and objectives with the most appropriate mortgage deals available from our panel of mortgage lenders.
  • We will request from you all the necessary paperwork at the start.
  • We work closely & meticulously with mortgage companies to ensure the application is processed promptly, guiding you through every step of the way from first contact to completion.
  • We take pride in working to meet your timescales.

At Trust Financial Solutions we strive to be professional, courteous, prompt, trustworthy, honest, caring, but most importantly, we'll always have the best interests of you, the client, at heart.

Prefer someone to just explain all of this to you?


Let To Buy - Options

Repayment Mortgage

This is also known as a Capital and repayment mortgage. This is the only mortgage that guarantees your mortgage will be completely cleared at the end of the term providing you keep up to date with all the required mortgage payments. Each monthly payment comprises part interest, and part return of capital.


Interest Only Mortgage

This is a mortgage where only the monthly payments cover the interest on the mortgage.

The loan is not decreased and at the end of the specific period the capital still remains and you will have to pay off this loan in full. In order to do this you will need an investment to cover the outstanding amount, (savings). The sale of your home is currently not allowed to pay off the loan
*Please note that we are unable to provide any advice in respect of a suitable repayment vehicle





Generic Mortgage Types - Explained

Offset Mortgages

Offset Mortgages

An offset mortgage allows you to offset your savings against the sum you have borrowed on your mortgage and you will be charged interest on the balance. It is usual for interest to be charged on a daily basis and may allow you to pay off your mortgage faster than with a conventional mortgage, and may save you money in the long run.

Fixed Mortgages

Fixed Mortgages

With a Fixed Rate Mortgage, the rate stays the same throughout the specific period, thus giving you peace of mind that your monthly payments won't change.
This allows you to budget accordingly

Tracker Mortgages

Tracker Mortgages

The Tracker Rate Mortgage follows a particular base rate such as the Bank of England Base rate or LIBOR (London Interbank Offered Rate) and can decrease or increase accordingly.

SVR (Standard Variable Rate) Mortgages

SVR (Standard Variable Rate) Mortgages

This is the Banks own lending rate without any discounts or deals. Usually this rate provides you with total flexibility and no penalties for closing the account early.



Other Mortgage Product Types

House Purchase / Moving Home

House Purchase / Moving Home Mortgage

This is the mortgage you'll require when you are buying a new home or moving to a different home and need to sell your existing house either privately or through an estate agent.

Click For More House Purchase Mortgage Info...

Remortgage

Remortgage Mortgage

This is the mortgage you'll require when you switch your mortgage (like for like) from one lender to another.

Also this is a good time to reassess your personal circumstances and make any necessary changes to your current mortgage. You may wish to borrow additional money to improve your kitchen or bathroom etc.

Click For More Remortgage Info...

First Time Buyer / Buying Your First Home

First Time Buyer / Buying Your First Home Mortgage

This is the mortgage required for people who want to get on the first rung of the ladder. There are lots of options available to you and some only require a small deposit.

Click For More First Time Buyer Mortgage Info...

Further Borrowing

Further Borrowing

This is when you wish or need to borrow additional money to build an extension to you home, modernise your kitchen or bathroom, consolidate your debt, or raise money for a new investment property.

Click For More Further Borrowing Info...

Debt Consolidation

Let To Buy

Let To Buy

Let to buy is a situation where a homeowner wishes to purchase a new home to live in and rent their existing property out to tenants.

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Buy To Let Mortgage

Buy To Let Remortgage

Self-Build Mortgage

Self-Build Mortgage

This is the mortgage you'll require to build your own home. Money is released, in stages, during the building process and valuations are done at each stage you wish to receive your money.

Click For More Self-Build Mortgage Info...

Commercial Mortgage



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Anthea Osborne t/a Trust Financial Solutions and First Complete Ltd will process all information in accordance with the Data Protection Act 1998 and it will be treated as private and confidential now and in the future. The only exceptions to this will be when the law requires us to disclose information or, with your consent, where disclosure is necessary when arranging or servicing your mortgage or protection contracts. To fulfill our regulatory obligations, we will retain copies of your records for no longer than is necessary or for the duration of any contract you may enter into. You have the right to inspect these records at any time.

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