Published 17 April 2013 · Last reviewed 28 May 2025

Buy another property without selling your current one with a Let to buy Mortgage

The purchase market has been slowing for a variety of reasons so we are seeing a growing number of applicants opting to break the reliance of a chain by choosing to let their existing property out, this is known in the mortgage world as Let to buy.

One of the main drivers has been the assistance provided to first time buyers in the form of Help to Buy {link} which has diverted potential buyers away from the established second-hand property to the new build market due to the lighter deposit requirements.

With let to buy mortgages, you are essentially judging two finance transactions and it strongly recommended that you speak with a mortgage professional broker, such as Niche Advice, as an understanding of both Mortgage Lender’s rules is imperative. For example, some Mortgage Lenders will insist that the let takes place at the same point as the onward purchase; others may factor the costings of the other mortgage into their assessment – they all can take different underwriting approaches.

If you are considering letting your existing property and buying another you might want to read my other let to buy articles on the topic:

Best Buy Mortgage for Let to buy
Looking to let your existing property until the time is right to sell
Want to remortgage existing property on to a buy to let
Raise the maximum money to fund a deposit on a new purchase
Bad credit let to buy mortgage

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Most buy-to-let mortgages are not regulated by the Financial Conduct Authority. A small number of buy-to-let mortgages are FCA-regulated — typically Consumer Buy-to-Let (where the borrower is not acting in the course of a business, such as an accidental landlord who has inherited or moved out of a former main residence) and Family Buy-to-Let (where the property is let to an immediate family member). Limited-company buy-to-let, portfolio buy-to-let and standard personal-name buy-to-let are not regulated by the FCA.

Where the underlying mortgage is not FCA-regulated, the lender's conduct on that loan is not covered by FCA rules and you may have reduced access to the Financial Ombudsman Service for complaints about the lending decision or product terms. However, Niche Advice Limited is a Credit Broker authorised and regulated by the Financial Conduct Authority (FCA No: 750263), and our broking activity — including the introduction we make to the lender — IS FCA-regulated under the FCA's CONC rules. Complaints about our broking service can therefore be referred to the Financial Ombudsman Service in the usual way.