Moving from a home you already own isn’t much different from buying your first property. There are just a few extra things to think about, and we can help you with it all.
You might want to keep it really simple, selling where you live and buying your next place. Or you might prefer to keep your existing home and rent it out, which is known as ‘ let to buy’. This could be a one-off investment, or an exciting step towards having a property portfolio. Whatever your plan, we can give you easy-to-understand, hassle-free advice about your options.
Decide early
The sooner you know what you want to do the better. If you plan to sell your home, we recommend getting it on the market as soon as possible. If you decide to rent your existing home, gather rental estimates from letting agents so you know how much tenants will be willing to pay. Normally you also have to convert your mortgage to a ‘ buy to let’.
We’ll carefully walk you through your mortgage options, keeping things clear and simple. You may want to ‘ port’ your existing deal over to your new mortgage. We’ll advise if that’s the best option, or if you’d benefit more from taking a new deal.
You’ll get all the pros and cons so you have the complete picture.
Finding the right solicitor
Once you’d decided, we can help you find the ideal solicitor to make sure all legal aspects go smoothly. You can choose any solicitor as long as they are registered on the lender’s legal panel. We have great recommendations if you need them.
Choosing a lender
Different lenders are suitable for different situations, so when you’ve found the property you want to buy, we’ll give you advice on who to approach for the mortgage.
It will partly depend on whether you are selling or letting your existing home. We will also look at how you prioritise landing a competitively priced deal and the need to move quickly. With our support you’ll find a lender with just the right balance for you.
