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Let-to-buy loans rise in popularity

Property

A relatively unknown type of mortgage that allows families to move into a new home without selling their existing property is growing in popularity, as many struggle to shift their homes. Mortgage broker Trinity Financial has reported a 15% increase in the sale of “let-to-buy” mortgages in the past six months, while some 20 mortgage lenders now offer such loans. Let-to-buy allows borrowers to buy a new home while they keep their current property and rent it out.

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