020 8668 6080

Mortgages

Let-to-Buy Mortgage Broker in Croydon

Let-to-buy lets you keep your current home and rent it out while you buy a new home to live in. PMS Mortgages arranges both mortgages together for clients in Croydon, Purley, Surrey and across the UK.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Let-to-buy involves two mortgages: a buy-to-let mortgage on the home you are keeping and a residential mortgage on the home you are buying.

An open-plan kitchen and living room filled with daylight
Mortgage advice tailored to your property plans, with 90+ lenders compared.

The process

  • Your current home is remortgaged onto a buy-to-let mortgage, which may release equity towards your next deposit.

  • A residential mortgage is arranged for your new home.

  • Both are timed to complete together.

What lenders consider

  • The expected rent on your current home, usually from a letting agent's estimate

  • Your income and affordability for the new residential mortgage

  • The equity in your current home

  • Your plans and experience as a landlord

Things to consider

Becoming a landlord brings responsibilities, running costs and tax considerations. Higher rates of stamp duty may apply when you buy your new home while keeping your current one. We do not give tax advice, so you may want to speak to an accountant. Landlords should also consider landlord insurance.

Most buy-to-let mortgages are not regulated by the Financial Conduct Authority. Approval is always the lender's decision.

Our fee

We may charge a broker fee for mortgage advice. Our typical fee is £479, payable only when you receive a mortgage offer. The fee will be confirmed before you proceed.

90+ UK LendersHigh-street and specialist lenders compared
Fee only on offerTypical fee £479, payable only when you receive a mortgage offer
18 years of experiencePersonal advice tailored to your circumstances
Frequently asked questions

Your questions answered

A family unpacking cardboard boxes on the floor of their new home

  • Often, yes. Remortgaging your current home onto a buy-to-let mortgage may release equity, depending on the rent, its value and the lender's criteria.

  • You may pay higher rates of stamp duty on your new home if you keep your current one. Your solicitor or an accountant can confirm the position.

  • Usually, yes. We coordinate both applications so the timing works.

How It Works

How it works

  1. 01

    Initial consultation

    Speak to PMS for an initial consultation to assess your affordability and an indication of the type of borrowing available to you within the mortgage market.

    Affordability assessed across 90+ lenders
  2. 02

    Full consultation

    If you're happy to go ahead, PMS Mortgages will arrange a full consultation by Zoom, phone or face to face. Where appropriate, we can help you obtain an Agreement in Principle. An Agreement in Principle shows how much you may be able to borrow based on the information you provide. It is not a mortgage offer and is subject to full application and credit assessment.

    Indicative borrowing assessed
  3. 03

    We handle the detail

    Once you have found a property we take care of everything else, mortgage application, surveys, solicitors, searches and dealing with any estate agents or developers on your behalf.

    Application, surveys and legal work managed
  4. 04

    Support to completion

    Your dedicated case manager and your consultant will be on hand to guide you through the whole process.

    Supported right through to completion

Ready to take the first step?

Your initial consultation is without obligation. Speak with an adviser in Croydon or over Zoom.

020 8668 6080

Talk to us about let-to-buy

Call us on 020 8668 6080