We’ve updated our policy so your clients can keep their current home and buy a new one.
You asked, we listened.
Let to Buy (LTB) is now accepted at April with no referral needed.
That means your clients can let out their current residential property and buy their next home with us – giving them access to our market leading 7x LTI and a range of unique features.
What’s changed?
We’ll now disregard the mortgage and associated costs on the let property, as long as:
- The expected rent (via ARLA letter) covers the mortgage
- You’ve got consent to let from the current lender, or a BTL mortgage offer
We won’t include any rental income in affordability, we’re just confirming the let property is self-funding.
Why it matters?
-
kes onward purchases easier
- Cuts your clients out of tricky chains
- Lets them borrow more without selling up
Ready to go?
You can now submit Let to Buy applications on our portal without speaking to us first.
Remember that we’ll still need the ARLA letter confirming the anticipated rent to be received along with the consent to let or a BTL mortgage offer. If there’s a shortfall between rent and mortgage costs, we’ll include the difference in affordability.
Just click below to Start a DIP or use our Criteria Search Tool for more information:
And remember…
l April products are packed with built-in benefits – it’s the power of our longer-term fixed rates:
- Rates that automatically reduce as your client’s LTV drops
- Improved affordability as longer-terms boost your client’s borrowing
- Uncapped overpayments, anytime
- No ERCs when moving home
- Extra rewards for you: our unique proc. fee structure recognises the value of advisers, paying you throughout the full fixed-rate term.
- Modern flexibility. Long-term certainty.
It’s mortgage more simple.
Try our nifty tools below to see for yourself – our AffordAbility+ Calculator (say hello, increased borrowing) and our Rate Reducer (simply showing you all the benefits of our automatically reducing rates):