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A let to buy mortgage in Essex allows you to rent out your current home while purchasing a new one to live in.
This option is ideal if you want to move without selling, as the rental income from your existing property can help with affordability.
Lenders assess both mortgages together, ensuring you can manage both properties financially
Our mortgage advisors in Essex can explore your options and guide you through the process.
To secure a let to buy mortgage in Essex, you’ll need to remortgage your current home onto a buy to let deal while applying for a new residential mortgage.
Lenders will look at factors like your rental income, financial situation, and credit history.
Working with a mortgage broker in Essex like us can make the process easier, as we’ll find lenders who suit your circumstances and handle the paperwork for you.
Most lenders require at least a 25% deposit for the buy to let mortgage on your existing home.
For your new residential mortgage, deposit requirements will depend on the lender, but options start from 5-10% if you meet affordability criteria.
Getting mortgage advice in Essex can help you understand your options and work out what’s needed for both mortgages.
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Richard
Very good service and excellent communication - definitely recommended
11 months ago
Shane
I cannot praise this team enough, they have been amazing. Especially Tom who went above and beyond to sort out my really complex mortgage and get me a deal which meant I could move to my new house. I would thoroughly recommend Essexmoneyman, they...
2 years ago
Shane
I cannot praise this team enough, they have been amazing. Especially Tom who went above and beyond to sort out my really complex mortgage and get me a deal which meant I could move to my new house. I would thoroughly recommend Essexmoneyman, they...
4 years ago
Imogen
We shopped around trying to find the best deal, should have come straight to Essexmoneyman, Nathan and Laura found me a perfect mortgage. When we had picked our product, they were speedy in ensuring they processed our applications quickly and taking...
2 years ago
Imogen
We shopped around trying to find the best deal, should have come straight to Essexmoneyman, Nathan and Laura found me a perfect mortgage. When we had picked our product, they were speedy in ensuring they processed our applications quickly and taking...
4 years ago
Jim
Matt and anna made the whole process super easy during the pandemic. as first time buyers we were worried but they made sure we were able to enjoy our first home together. thank you !!
2 years ago
Jim
Matt and anna made the whole process super easy during the pandemic. as first time buyers we were worried but they made sure we were able to enjoy our first home together. thank you !!
4 years ago
Yes, but you’ll need to switch your existing mortgage to a buy to let deal.
At the same time, you’ll apply for a new residential mortgage on the home you’re moving into.
Lenders will assess both mortgages to ensure you can afford them.
Not necessarily, but lenders will want to see that your property can generate enough rental income to cover the mortgage payments.
They may use a rental assessment to estimate how much you could charge before approving your application.
Let to buy mortgages are specifically for renting out your home, so staying in the property without informing your lender could breach your mortgage terms.
It’s possible, but your options may be more limited. Lenders will assess your credit history alongside your income and rental potential.
Some specialist lenders cater to applicants with bad credit, and our mortgage broker in Essex can help find the right deal for you.
The timeline varies, but the process typically takes a few weeks to a couple of months. Factors like property valuations, rental assessments, and lender requirements can affect how long it takes.
Working with a mortgage advisor in Essex can help speed things up by ensuring everything is in place from the start.
Yes! Many homeowners release equity from their existing property to help fund the deposit for their new home.
The amount you can borrow depends on your home’s value and how much equity you’ve built up.
No, let to buy is a specialist type of mortgage, and not all lenders provide it. Some have stricter criteria, while others offer more flexibility.
Getting mortgage advice in Essex can help you find a lender that fits your circumstances.
Our mortgage advisors in Essex will assess your situation and explain your options.
We’ll check your affordability for both the buy to let and residential mortgages.
We’ll help you switch your current mortgage to a buy to let deal.
Lenders will assess your rental potential to ensure the property can generate enough income.
Once your let to buy mortgage is in place, we’ll find a suitable residential mortgage for your new home.
This runs alongside your buy to let deal to ensure everything progresses smoothly.
Once both mortgages are approved, you can complete the process and move into your new home.
Your solicitor will handle the final steps, and you’ll start receiving rental income from your old property.
Our mortgage advisors in Essex have helped many homeowners secure let to buy mortgages.
We understand the process inside out and will guide you through each step, making everything as straightforward as possible.
Every homeowner’s situation is different, which is why we take the time to find the right mortgage deals for you.
Whether you need to release equity or find a lender with flexible criteria, we’ll explore all available options.
Managing two mortgages at once can seem complicated, but we’ll handle the paperwork and liaise with lenders for you.
We’ll keep you updated throughout, so you always know what’s happening.
Our help doesn’t end once your mortgage is approved.
We’re always here for you, whether you need advice in the future or want to review your mortgage options later down the line.
This is the most common option, where you remortgage your existing home onto a buy to let deal while securing a new residential mortgage.
Lenders will assess your rental income and affordability to ensure you can manage both loans.
With an interest-only mortgage, you only pay the interest each month, keeping costs lower.
The full loan balance is repaid at the end of the term, usually through property sale or other investments.
This can be a popular choice for landlords looking to maximise cash flow.
A capital repayment mortgage reduces both the loan amount and interest over time.
While monthly payments are higher, you’ll gradually build equity and fully own the property by the end of the term.
Investing in a holiday let in Essex can be a lucrative opportunity, particularly in popular tourist areas.
Holiday let mortgages differ from standard buy to let mortgages, with lenders considering seasonal income fluctuations and stricter criteria.
As a mortgage broker in Essex, we can help you find lenders specialising in holiday lets, ensuring the mortgage you choose suits the unique nature of this investment type.
If you’ve built up equity in your current home, you may be able to release some of it to use as a deposit for your new property.
Lenders will assess how much equity you can access based on your home’s value and remaining mortgage balance.
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Essexmoneyman.com & Essexmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk.
© Essexmoneyman 2025.
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Essexmoneyman.com & Essexmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk.
© Essexmoneyman 2025.
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