If you’ve successfully applied for a let to buy mortgage, you’ll be able to live in the property you purchased as your new primary residence using a regular mortgage without issue. You won’t, however, be able to stay in your existing property due to its conversion to a buy to let mortgage.
Under the vast majority of buy to let mortgage terms, buyers cannot live in a property that they have financed with this mortgage type. In fact, doing so would be considered mortgage fraud in most cases, and may result in the lenders’ request for the immediate repayment of the full loan amount.
If you’re considering a let to buy mortgage, our experts highly recommend seeking advice from a mortgage broker with strong experience and a good reputation. Here at Fees Free Mortgages, we’re proud to offer no-obligation, fees-free mortgage advice sessions, delivered by unbiased brokers specialising in let to buy mortgages. Whether you’re at the very start of your mortgage journey or need some assistance along the way, we’ll help you find and secure the best possible mortgage for your circumstances.