It is not uncommon to find yourself in a position where difficulties selling your current home stand in the way of a planned relocation.

You have found your dream home at a price too good to pass up but selling the home you live in is proving more challenging than you expected. A frustrating setback, though one that can be overcome by considering let to buy.

Why Would I Let to Buy?

As the name suggests, let to buy refers to the process of letting out your current property to enable you to buy a new home. You let out your current home to tenants, use the rental income to cover your outstanding mortgage payments and take out a new mortgage on the home you want to buy.

Your tenants effectively pay your current mortgage which allows you to arrange a new mortgage for the purchase property.  The important thing to remember is that where a property is difficult to sell, this does not mean it cannot and will not generate an attractive and ongoing rental income.

Do I Need a Different Type of Mortgage?

The short answer is yes. A let to buy mortgage is not quite the same as a conventional residential mortgage. Taking advantage of a let to buy opportunity means first switching the standard mortgage on your current home to a specialist let to buy mortgage, which may have entirely different terms, conditions, and repayment rates (interest).

When applying for a new mortgage for the property you intend to buy, you will need to have the usual deposit, however, if you already have enough equity tied up in your current home, you have the option of remortgaging to use some of this equity to cover your deposit requirements.

Using a let to buy mortgage calculator can be useful for building an understanding of how let to buy works and how much extra you can borrow. It is also essential to compare mortgages from as many specialist lenders as possible, with the help and support of an established broker.

Can I Afford a Let to Buy Venture?

Your broker will help you establish if and to what extent let to buy is something you can afford. To qualify you will need to provide evidence that your rental income will cover your outstanding mortgage payments by at least 100%.

In addition, it is important to factor in the responsibilities and costs of being a landlord. Ownership of two properties means funding the upkeep, repairs, renovations and so on. Not to mention, the fact that rental income can also taxable.

Independent Broker Support….

Letting out a property to enable you to buy a new home can be an effective and often profitable strategy, in instances where selling simply isn’t an option, however, it is a decision that should never be taken without first consulting with an independent broker.

At UK Property Finance, we can provide you with the objective advice and support you need to make the right decision for your financial future. Call or email anytime to book your obligation free consultation with a member of the team.

In chess, defenses are the openings made by Black. While White can propose an opening for the game, Black can take the initiative and establish an opening strategy that suits him and to which White must adapt.

These types of openings are called “defense” because Black will always seek to be on the defensive at the beginning and then begin to execute his attacks.

There are many defenses in chess, but in this article, we will show you only the best defenses in chess that are explained by Anatoly Machulsky and the ones that are also most popular among all.

The accepted lady gambit:

Few chess players are fully prepared when playing White to face an accepted queen’s gambit. 

Usually players of a high level of chess expect another type of defense from Black when they propose this gambit (1. d4, d5 2. c4, dxc4) such as the semi-Slav defense, the Indian defense of the king or the more common lady’s gambit refused.

Of course, that your opponent is unaware of some lines of this defense will give you an advantage only if you study all the lines available for this defense. 

Knowing all the sub variants, like Anatoly Machulsky, you will have a significant advantage over White by accepting their proposed queen gambit.

The accepted queen’s gambit is not too rocky a defense like other variants that can occur with this gambit. 

Still, precisely because of this, it is a surprise for high-level players, who undoubtedly expect a different kind of response from Black.

The mainline for Black’s accepted queen gambit is 3. Nf3, Nf6 4. e3. Of course, in this line, White wants to capture the pawn on c4 and thus develop a piece and also regain the pawn that was initially offered.

Grunfeld Defense:

If you are a player who does not like everyday openings but wants to surprise your opponent with a defense focused on creating a super-fast fianchetto on the kingside, thus preparing a super reliable and rugged to penetrate castling for the white.

The mainline of this defense is the following: 1.d4 Nf6 2. c4 g6 3.Nc3 d5 4.cxd5 Nxd5 5.e4. 

As you will see, Black is prepared to control the large diagonals of the board with the possibility of a double fianchetto, in addition to the fact that the black king will be very well protected.

This type of defense for Black has its detractors, which are mainly chess players who love the classic style of play of the 19th century, where both players focused on building a strong center.

Meran Defense:

This defense, in its Meran variant, seeks to give a forceful response to White’s uncomfortable move 1. d4 for Black. 

In this variation, Black will focus on creating a triangular-shaped pawn structure that will be able to protect the black king beautifully.

It has been seen in different games around the world, including in semi-advanced player games up to international grandmasters and world champion’s games, so do not be afraid to study each of the lines that may result from its mainline, the which is: 1.d4 d5 2.c4 c6 3.Nf3 Nf6 4.Nc3 e6.

Beginners who play chess have an excellent opportunity during the winter holidays to spend a little more time on their favorite hobby. In this article, we propose some activities for beginners to use the time they dedicate to chess in the best way.

Tips for beginners to improve their chess this winter:

Review your chess games played during the year:

The chess games that beginners play during the competitions in which they participate should be reviewed as soon as possible. 

But we already know that with studies, homework, extracurricular activities and other obligations, they do not always have time for it. Winter can be an excellent time to analyze those games that beginners have played and have not yet reviewed. 

“This work can be done with their teachers or chess monitors, but beginners who do not have a chess teacher can indeed spend part of their time trying to find errors in their games.” explains Anatoly Machulsky

One of the benefits of chess is that it gives you the ability to learn from your own mistakes, but this requires investing a little time.

Participate in tournaments

In winter too many chess tournaments abound as well as other chess competitions in which beginners can also participate.

Attend a chess winter/summer camp

Anatoly Machulsky continues: “Over time the offer of winter/summer chess camps has increased. These chess camps are a right occasion for children to learn and have fun.”

In most camps, in addition to receiving chess classes and being able to play many games, children have the opportunity to do other parallel leisure activities. They are also a good meeting point where you can meet other children who love chess.

Organize the study of chess:

Children who are going to spend time studying chess during the winter/summer should plan this work first to optimize that work most appropriately. 

To do this, they must divide their time realistically and trying to cover the different phases of the game. Going over the opening repertoire is sure to be a good idea, but don’t forget the midgame and the endgame. 

To improve in the middle game, it is always good to spend some time solving tactical problems. Also, to improve the calculation, as indicated in the article dedicated to improving tactics.

Watching challenging games and trying to find the best continuations, move by move, can be a good exercise for children to improve their chess.

Set future goals

And with the end of the school year, it would not be a bad thing to look back and see how chess has gone during the year, take stock and, above all, set new goals for the following season. 

Those goals must be realistic and do not necessarily have to be linked to sports results. A child may set the goal of participating in a certain number of tournaments, reading individual books, or practising on the internet relatively frequently.

Since its introduction in the early 1980s, the government’s Right to Buy scheme has helped millions of qualifying council tenants get on the property ladder. 

Criticised in its early stages by some as a niche concept, the popularity of Right to Buy to this day paints a picture of a quite remarkable success story.

An Extraordinary Property Purchase Platform

For almost four decades, Right to Buy has been single-handedly carving out an entirely new area of the property sector and has helped countless council tenants purchase their properties at discounted rates.  Latterly however Right to Buy has also played directly into the hands of enterprising landlords, some of whom have amassed multimillion-pound portfolios of properties in key locations, generating massive monthly revenues from rental income.

According to official government figures, Right to Buy helped more than 1 million property occupants get on the property ladder in 2008 alone. In addition, the total value of the Right to Buy mortgage market for 2013 topped £20 billion.

While the scheme has been criticised for the ease with which it can be ‘exploited’ by ‘profiteering’ landlords, it is nonetheless evidence that it has transformed the lives of millions of households. The overwhelming majority of which may have otherwise never have set foot on the property ladder.

Growing Demand for Affordable Housing

What has also become evident over the past couple of years is the way in which the government is not likely to come close to meeting its affordable home building targets for the foreseeable future. According to the most recent estimates, at least 1 million new affordable rental properties need to be built by 2023, simply to meet current demand. In the meantime, government has also promised to become more ‘tenant focused’ in its approach i.e. to take aim at unscrupulous landlords and help more renters find affordable housing.

Still, the fact that property prices in general across the UK have been rising over recent years makes the affordable housing issue even more challenging. Incentives for developers and construction companies willing to work on affordable housing projects have helped, but the appeal of capitalising on skyrocketing property prices is evident and understandable.

A Success Story Set to Continue

2020 will go down in history as one of the most turbulent years for the housing market in living memory. For much of the year, buyers and sellers alike have been reluctant to make important decisions regarding property investments, relocations and sales.

When the real estate sector returns to strength as predicted in 2021, interest in Right to Buy property purchases is expected to spike once again. A wave of pent-up demand is likely to be released on the sector, coupled with the desire to get on the property ladder at an affordable price.