Let to Buy Mortgages
Keep your current home as a rental property and buy a new one. We coordinate both mortgage applications to make the process seamless.
Move Home Without Selling
A Let to Buy arrangement allows you to convert your existing residential mortgage to a buy to let (or obtain consent to let) and simultaneously take out a new residential mortgage on your next home. It's an increasingly popular strategy for homeowners who want to build a property portfolio while moving to a bigger or different home.
What We Can Arrange
Get Expert Advice
Free, no-obligation consultation. We'll be in touch within 24 hours.
Who Is This For?
- • You want to move to a new home but keep your current property as an investment
- • You have equity in your current home that can fund the deposit on a new purchase
- • You're relocating for work and don't want to sell in the current market
- • You want to start building a property portfolio
- • Your current mortgage rate is competitive and you want to preserve it if possible
Key Considerations
• Stamp duty: You'll likely pay the additional 3% stamp duty surcharge on the new purchase as you'll own two properties. We recommend seeking independent tax advice on this.
• Rental coverage: The rental income on your current property must meet lender stress tests, typically 125–145% of the mortgage payment.
• Affordability: You'll need to demonstrate affordability for the new residential mortgage based on your income, taking into account the existing BTL commitment.
• Consent to let: Some lenders allow consent to let on your existing mortgage temporarily. Others will require a full product switch or remortgage to a BTL product.
Chess Mortgages does not provide tax advice. We recommend consulting a qualified accountant regarding stamp duty and tax implications of owning multiple properties.
How It Works
Initial Consultation
We discuss your situation, income, goals and any concerns — at our expense and without obligation.
Market Search
We search our extensive lender panel including specialist lenders to find the best deal.
Application
We prepare and submit your application, managing all lender communications.
Completion
We coordinate with solicitors and the lender through to completion day.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Chess Mortgages is a trading style of Chess Property Services (London) Limited (Company No. 6575229), authorised and regulated by the Financial Conduct Authority (FCA No. 748976).
Frequently Asked Questions
Ready to Get Started?
Speak with one of our expert advisers today — initial consultation at our expense, and without obligation.