Turn Your Existing Home Into a Rental Property While Buying Your Next Home
If you're planning to move home but would prefer to keep your current property as an investment, a Let to Buy Mortgage could be a suitable option.
At SynergiseUK, we introduce individuals and property owners to carefully selected independent Specialist Mortgage Brokers who have access to whole of market lenders. They can assess your circumstances and help identify lenders that may consider your application.
Every lender has different criteria, making specialist advice valuable when considering a Let to Buy Mortgage.
What is a Let to Buy Mortgage?
A Let to Buy Mortgage allows you to let out your existing residential property while purchasing a new home to live in.
Typically, your current residential mortgage is replaced with a buy to let mortgage, while you arrange a new residential mortgage for your onward purchase.
Many homeowners use Let to Buy when they:
- Need more space for a growing family
- Are relocating for work
- Want to retain a property that has increased in value
- Wish to build a long-term property portfolio
- Believe their existing property could generate rental income
- Want flexibility rather than selling immediately
The rental income received may help cover the mortgage payments on the property, although this will depend on rental levels, lender affordability calculations and ongoing costs.
How Does a Let to Buy Mortgage Work?
Although every case is different, the process usually follows these steps:
- An independent specialist broker reviews your circumstances.
- Your current property's likely rental income is assessed.
- A buy to let mortgage is arranged on your existing home, subject to eligibility.
- A residential mortgage is arranged for your new property.
- Both transactions are coordinated to complete together where possible.
Lenders will assess both mortgages independently and each application will be subject to their lending criteria.
Benefits of a Let to Buy Mortgage
A Let to Buy Mortgage may offer several advantages, including:
- Retaining ownership of a property that may continue to increase in value
- Creating an additional source of rental income
- Avoiding the need to sell during an unfavourable housing market
- Beginning or expanding a property investment portfolio
- Greater flexibility if you may wish to return to the property in the future
- Potential long-term wealth creation through property ownership
The suitability of a Let to Buy Mortgage will depend on your financial circumstances and future plans.
Who Could Benefit from a Let to Buy Mortgage?
A Let to Buy Mortgage may be suitable for:
- Homeowners moving to a larger property
- Families relocating to another part of the UK
- Professionals moving for employment
- Individuals inheriting another property
- Existing landlords purchasing another home
- Property owners looking to keep an appreciating asset
Your specialist broker will explain the available options based on your circumstances.
What Will Lenders Consider?
Every lender has different requirements, but they commonly assess:
- Your income and affordability
- Expected rental income from your existing property
- Available equity
- Deposit for your new home
- Credit history
- Existing mortgage commitments
- Property type
- Overall financial position
Some lenders may also require a minimum level of equity before offering a Let to Buy Mortgage.
Why Use a Specialist Mortgage Broker?
Let to Buy can be more complex than a standard residential mortgage because two linked mortgages are often involved.
A specialist whole of market mortgage broker can help by:
- Comparing lenders with Let to Buy experience
- Explaining different lending criteria
- Identifying lenders suited to your circumstances
- Assisting with the application process
- Liaising with lenders, valuers and solicitors throughout the transaction
In some cases, specialist brokers may have access to lender products or criteria not always available on the high street.
Why Choose SynergiseUK?
At SynergiseUK, we are a Professional Referral Network.
We do not provide mortgage advice or arrange mortgages ourselves. Instead, we introduce you to experienced independent Specialist Mortgage Brokers who understand Let to Buy lending.
When you enquire through SynergiseUK, you can benefit from:
- Access to carefully selected independent specialists
- Introductions to whole of market mortgage brokers
- Support throughout the introduction process
- A straightforward online enquiry
- No obligation to proceed following your initial enquiry
Our aim is to help connect you with the right specialist for your circumstances.
Enquire Today
If you're considering moving home but want to retain your existing property, speaking with a specialist broker can help you understand the options available.
SynergiseUK can introduce you to an independent Specialist Mortgage Broker who can assess your circumstances and help you explore suitable Let to Buy Mortgage solutions.
Enquire today with no obligation.
Frequently asked Q&A's
A Let to Buy Mortgage lets you purchase a new residential property while renting out your existing home, using the rental income to support affordability.
Eligibility usually requires:
- Ownership of your current property
- Sufficient projected rental income to cover your new mortgage
- Good credit history
- Deposit available for the new purchase
Deposits typically range from 15% to 25%, depending on lender, property type, and your financial profile. Larger deposits increase approval chances and can improve interest rates.
They can be more complex, as lenders consider both your existing rental income and your financial position for the new property. Specialist brokers can guide you through the process.
Yes, but some lenders may require a stronger deposit or a robust affordability assessment.
Rates vary by lender, deposit size, and property type. Brokers search the market to find competitive rates for your circumstances.
Usually not if you have a strong financial profile, but some lenders may request guarantees depending on circumstances.
Yes. Most lenders allow rental income to be included when assessing your affordability for the new mortgage.
Timescales vary, but broker support usually makes the process smoother and faster than applying directly.
SynergiseUK is an introducer. We connect you to specialist mortgage brokers who provide expert advice, access to whole of market products, and sometimes exclusive deals to help you get the best terms.
A mortgage is a long-term financial commitment and is not suitable for everyone.
Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
Interest rates may be fixed or variable. If you take a variable or tracker mortgage, your repayments could increase if interest rates rise. Changes to your personal circumstances — such as loss of income, illness, or increased living costs — could also affect your ability to meet repayments.
Mortgages often involve additional costs, including arrangement fees, legal fees, valuation fees, early repayment charges, and other lender or adviser fees. Extending the mortgage term may reduce monthly payments but can result in paying more interest overall and remaining in debt for longer.
You should carefully consider affordability now and in the future and seek professional advice before proceeding.
Important: Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
No. SynergiseUK does not provide mortgage advice or lending decisions.
We act solely as a referral platform, introducing potential customers to authorised mortgage advisers or lenders.
Any advice, affordability assessment, credit checks, and mortgage recommendations will be provided directly by the authorised provider, who is responsible for ensuring the product is suitable for your circumstances and compliant with Financial Conduct Authority regulations.
Important: Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
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