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Let to Buy
Let to Buy Solution for Home Owners in Cambridge
Let-to-Buy is the perfect property solution for those who need to move from their current property but they can't sell it.
As the name suggests Let-to-Buy is the upside down version of Buy-to-Let. With the latter, you purchase a property with the intention of letting it out; however with Let-to-Buy your keep your current property for tenants and buy a new property for yourself.
Belvoir Peterborough can offer an entire Let-to-Buy solution as we have both a thriving sales and letting department. We can help you search for the right mortgage solution and then get your current property on the lettings market, ensuring you can move to a new home in no time.
There are various reasons why people choose to obtain a let-to-buy mortgage and rent out their existing house:
- Needing to move due to relocation or expanding family but home won't sell
- Not wanting to sell a property due to sentimental reasons e.g. an inherited property from parents
- Keeping hold of a property as a long term investment because it's value will appreciate
- Keeping property to give to children when they grow up
- Letting because there is a healthy rental market where the propertyy is based.
In some areas such as Peterborough where house prices are below average and rents just above, you can make more money from monthly rent than your monthly mortgage repayments.