When moving home, many homeowners assume selling their current property is the only way to raise a deposit. However, with the right mortgage advice, it’s often possible to keep your existing property, turn it into a buy-to-let, and still buy your next home.
In this case study, I explain how I helped a client remortgage their property in Ainsdale, convert it into a buy-to-let, and use the released equity as a deposit to buy a new residential property in Formby.
The Client’s Goal: Moving from Ainsdale to Formby Without Selling
My client owned a residential property in Ainsdale and was looking to purchase a new home in Formby, which they planned to live in.
They were keen to keep their Ainsdale property because:
- They knew the Ainsdale rental market is strong
- The property was well suited to tenants
- They wanted a long-term buy-to-let investment
- Selling felt like giving up a valuable asset
The challenge was raising a deposit for the Formby purchase without selling the Ainsdale home.
Reviewing the Ainsdale Property for Buy-to-Let
The first step was a full mortgage review of the Ainsdale property, including:
- Current market value
- Existing mortgage balance
- Available equity
- Expected rental income in Ainsdale
Because the client understood the local area and rental demand, we were confident the property would rent well and meet buy-to-let lender criteria.
This assessment confirmed that a buy-to-let remortgage in Ainsdale was a viable option.
Remortgaging the Ainsdale Property to a Buy-to-Let
I arranged a buy-to-let remortgage on the Ainsdale property, officially converting it from residential use to a rental property.
This achieved two key outcomes:
- The property became fully compliant as a buy-to-let
- Equity was released from the Ainsdale property
The projected rental income comfortably met lender stress tests, making the mortgage affordable and sustainable.
Using Ainsdale Equity as a Deposit for a Formby Purchase
The funds released from the Ainsdale buy-to-let remortgage were then used as the deposit for the client’s new home in Formby.
Alongside this, I arranged a residential mortgage for the Formby property, tailored to the client’s circumstances and long-term plans.
This structure allowed the client to:
- Buy a home in Formby without selling their Ainsdale property
- Use equity from Ainsdale as the deposit
- Secure a competitive residential mortgage in Formby
- Retain a strong buy-to-let investment in Ainsdale
The Result: A Buy-to-Let in Ainsdale and a New Home in Formby
The final outcome was exactly what the client hoped for:
- ✅ A new residential home in Formby with a suitable mortgage
- ✅ The Ainsdale property converted to a buy-to-let
- ✅ Deposit funded using equity from Ainsdale
- ✅ Ongoing rental income from a property in a high-demand area
Most importantly, the client kept a property they knew would rent well in Ainsdale, while moving into a home that better suited their lifestyle in Formby.
Why Local Mortgage Advice Matters in Ainsdale and Formby
This case study highlights why speaking to a local mortgage broker can make a huge difference. Understanding local property values, rental demand, and lender criteria allows for solutions that aren’t always obvious.
If you’re:
- Looking to remortgage a property in Ainsdale
- Considering turning a property into a buy-to-let
- Planning to buy a home in Formby
- Wondering how to use equity as a deposit
Getting advice early could help you achieve more than you think.
If you want to speak to me, please feel to contact me on 0777 587 4126 or email me on daniel@middletonfinance.co.uk
The information contained within was correct at the time of publication but is subject to change.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Most Buy to Let Mortgages are not regulated by the Financial Conduct Authority.
