Birmingham Midshires add a Let-to-Buy mortgage range
BM Solutions, the buy-to-let lending arm of Lloyds Banking Group, has introduced a range of let-to-buy mortgages.
These rates are designed to help home owners release equity from their existing property to put down as a deposit to fund a new home. Â The old property is then converted into a buy-to-let and let out, to allow borrowers to benefit from any future house price increases and rental surplus.
Aaron Strutt, of Trinity Financial, told The Sunday Times: "Lenders are loosening criteria as they look to lend more money. By relaxing their buy-to-let criteria they can lend twice to one borrower to increase lending figures.
"Many people are now relying on their properties to increase in value to help fund their retirements."
Lots of our Trinity's clients are using Let-to-Buy mortgages and lenders are looking to offer more mortgages in this area. We have access to range of other lenders offering Let-to-Buy's and their rates may well be a bit cheaper than the BM Solutions range.
If you would like help to secure a Let-to-Buy mortgage, call us on 020 7016 0790.
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