Let-to-Buy can be an attractive option if you want to move and keep your current home as an investment. It involves converting your existing residential mortgage to a buy-to-let mortgage, allowing you to let out your current home to buy a new one, hence let-to-buy. You can then take out a new residential mortgage on your new property without any restrictions.
This strategy can be complex, involving two mortgage applications and balancing the financial implications of two properties. If you are a first-time landlord, a Let-to-Buy will also be considered a Consumer Buy-to-Let application. Nothing to worry about; you will receive extra protection from the lender regarding your new Let-to-Buy mortgage.
Getting professional advice from a Mortgage Broker is essential to ensure both mortgages align with your long-term investment goals and financial situation.