Posted by Basak Erten, December 11, 2020
We’re thrilled to announce that Molo is now offering Let to-Buy mortgages, making it much easier to convert your existing home mortgage so you can rent out your property.
If you’re not familiar with Let-to-Buy mortgages, they enable homeowners to convert a residential home into a property to let while simultaneously purchasing a new residential property, by releasing equity into their existing home. The launch of this new product means homeowners now have more choices available to them when it comes to pursuing Buy-to-Let.
What’s the difference between Let-to-Buy and Buy-to-Let?
The distinction between Let-to-Buy and consumer Buy-to-Let mortgages is that with the former option, you must own at least one other Buy-to-Let property at the point of application. On the other hand, consumer Buy-to-Let mortgages are regulated as residential mortgages and are aimed at individual, part-time landlords rather than professional landlords.
Learn more on what mortgage options are available for you and get more information on our full eligibility criteria here.
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