SHOULD YOU CONSIDER LET TO BUY IF YOU WANT TO MOVE HOUSE.
You are probably familiar with buy-to-let, where you purchase a second property with the intention of renting it. But what if you want to move home as well as become a landlord? What is ‘let to buy’? We sometimes find that when we suggest let to buy as an option people find the concept a little odd. We tend to think about our relationship with our property in three ways · We rent and try to get in a position to own our own home · We have a mortgage and own our own home · We have a mortgage and own our own home as well a further new mortgage for a property we rent out. Traditionally, when we want to move house, we sell the property we own and buy a replacement home. However, why should we sell our old home? With let to buy, you could rent your old home out and potentially become a landlord with a rental income. In effect, let to buy adds a fourth option to the above · We rent our old home