We were approached by health advisor living in High Wycombe who wished to move closer to her family in Scotland.

Rather than sell her current home, she wished to begin letting her property, whilst raising enough capital against it to use as the deposit on a new home in Edinburgh. 

The property in question is an unencumbered, ex-local authority three-bedroom flat in Maidenhead.

This type of transaction is classified as a let to buy. Some buy to let lenders steer clear of these transactions as the client is defined as an ‘accidental landlord’ and as such additional consumer protection is required.

With those that do accept let to buy transactions, the majority want proof of an onward purchase. As this client was planning to rent until she found a new property we needed to find a lender which would take this scenario into consideration.

We took the case to a leading building society. Happy with the projected rental income and client’s profile.

The following terms were offered: