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Let To Buy How To Move Home Without Selling Your Existing Property

January 12th, 2015

Rated 4.97 out of 5 from 2,400+ reviews

Let to buy – how to move home without selling your existing property? Property market experts have been talking about a temporary slowdown in the London property market as we head towards the May 2015 General Election. The combined effect of political uncertainty and stamp duty rises for luxury homes has caused a slight downward adjustment at the top end of the market in the last couple of months of 2014.

However, this short-term phenomenon should be viewed against the background of the surge in London property prices over recent years. The difference between the average price of property in London (£406,730) and the UK as a whole (£189,002) is now greater than it has ever been before, according to Nationwide’s latest figures (Nationwide House Price Index Q4 2014). London’s average property price has increased by 17.8% in the last year, whereas the overall UK average has increased by 8.3%.

Of particular relevance to London residents is the fact that, if they had bought a flat in the capital at the end of 1984 for the then average price of £46,000, by the end of 2014 their property was worth, on average, almost £407,000, nearly 9 times their initial investment.

London’s property market may be pausing for breath, but in the long term, it remains strong, based on the city’s status as an attractive and relatively safe haven for international investors. Many London homeowners will be thinking about moving out of the metropolis to take advantage of the value to be found in the region, but are loath to give up the capital appreciation potential of their London property. If the period 2015-2045 matches 1984-2014, their London property will be worth many multiples of its current value in thirty years’ time and that could be an important factor in their standard of living in retirement. This is exacrtly the momwnt when let to buy becomes a perfect solutions.

We’re finding that many clients who wish to retain their investment in London (or any other area of long-term house price inflation) and continue to benefit from owning such a property are actively considering ‘let to buy’. This is where you keep your existing property and rent it out, at the same time as buying your new home. You are likely to need bespoke property finance to support this type of transaction and it pays to take independent professional advice in such a specialist area. If you are moving out of London, make sure you contact a London-based independent mortgage broker who has in-depth knowledge of the particular factors at play in the London property finance market.

Let To Buy With Private Finance

Established in 1999 Private Finance has successfully negotiated billions of pounds of mortgages. It is an independent mortgage broker whose mission is to exceed your expectations, working on your behalf to procure competitive terms and a suitable solution, quickly and efficiently.

Private Finance is not limited in the range of mortgages it will consider for clients. It is well respected by mainstream institutions and private banks, with which it has a reputation for introducing high-quality clients. Its mortgage brokers are qualified professionals who understand and empathise with the needs of discerning individuals.

You can be assured that your mortgage will be competitively priced and well-suited to your needs.

As a client of Private Finance, your mortgage arrangements will be handled on a day-to-day basis by your dedicated broker. You will not have to deal with call centres or spend time providing personal information via online forms.

You are therefore free to get on with your life in the knowledge that your mortgage application is being managed proactively in order to meet important deadlines.

Our brokers take pride in helping clients fulfil their property aspirations and can often turn the seemingly impossible into reality! You may be able to look at a wider range of properties than you previously expected and overcome obstacles which might have stood in the way of progress.

To learn more about your mortgage options, you can reach our team on 0800 652 0971 or email info@privatefinance.co.uk.

This article is based on information available on the date of issue, 12th January 2015.

Disclaimer: The views and opinions expressed in this content are those of the author and do not constitute financial, legal, or professional advice, nor should they be interpreted as a recommendation. They do not necessarily reflect the official views, policies, or positions of Private Finance, and are not intended to represent broader market or industry perspectives.

Please remember that your home could be repossessed if you do not keep up with repayments on your mortgage.

PF

Let To Buy How To Move Home Without Selling Your Existing Property

Let To Buy With Private Finance

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