More and more people are choosing to live abroad for work, family, lifestyle or a combination of all three. For many homeowners, the next question is simple: do you sell your house in Britain or keep it?
The latest official figures suggest this is not a niche choice. The Office for National Statistics (ONS) estimates that British national emigration was 252,000 in the year ending June 2025, and that net migration for British nationals in the same period was -109,000.
Complete fact also reports revised estimates showing that 257,000 British nationals emigrated in the year ending December 2024, and 143,000 returned.
If you’re moving abroad but don’t want to cut ties with Britain, there’s a route that can help you. That’s called letting people buy.
What is a hire purchase mortgage?
A hire-purchase mortgage is a type of mortgage where you keep your current home, rent it out and buy another home at the same time. In practice, you usually end up with two concurrent mortgages.
One of these concerns the property you are renting out, which is being moved from a residential mortgage to a buy-to-let agreement. The other is a new home mortgage for the home in which you will live.
This is important because it allows you to legally rent out your current home, while also allowing you to apply for a new mortgage without having to sell first. Lenders still check whether both mortgages are affordable, based on your income and the expected rental price of the property you are renting out.
Why this is becoming more and more common
We are speaking to more and more customers who are planning a move abroad but want to maintain a UK base. Some want the opportunity to return. Some want to keep a home for their family. Some want to hold an asset in pounds. For many, the key point is choice.
The Financial times reported that overall net migration to the UK fell sharply to 204,000 in the year to June 2025, and also highlighted the net outflow of British citizens, with 109,000 more British citizens leaving than arriving. Taken together with the ONS and Full Fact updates, the picture is clear: more Brits are living abroad, and even more will need a plan for what happens to the British home.
How buying can help if you move abroad
Buying can take away the pressure to sell under a tight deadline. If you’re working toward a start date, a school date, or a visa date, rushing to sell could mean accepting a lower offer than you hoped. Renting out the home can give you time and breathing space.
It can also help with cash for the move. In many cases, you can free up part of your equity by transferring your current home to a purchase mortgage.
That money can then help with your down payment and purchase costs abroad. This is one reason why let to buy is often used by people who struggle to sell quickly, but still need to move on.
There is also the everyday element. The rent can help cover the mortgage on the British home. It can also leave a surplus, but you should never rely on the best figures. You need a buffer for repairs, vacancies and agent costs.
What lenders often look for
Most lenders will want evidence that the property will rent enough to support the mortgage. They will also want to see that you can afford the new home mortgage, and that your credit history and income are strong enough for two loans.
Equality is also important. A general rule of thumb is that you need about 20% to 25% equity in the property you want to rent out. Some lenders also set age limits, and the criteria may vary from lender to lender.
Also take into account the additional costs that can be associated with buying a second home.
The most important risks of letting someone buy
Buying is not suitable for everyone and it is not a quick solution either. Being a landlord is a real responsibility. You need to keep the property safe and maintained, you need to be prepared for times when there is no tenant paying rent and you need to comply with regulations – i.e. Energy Performance Certificate (EPC) standards, tenant rights etc.
You must also declare income, and depending on your broader position you may face additional tax.
Rates may be higher than standard residential rates, and you need a clear plan for how you will repay the loan if it is interest-only.
A simple way to check if renting could be something for you
Start with your time frame. If you return to Britain in a few years, it may make sense to keep your home. If selling now would force you to make a quick decision, it’s worth looking at other options. If the rent is likely to cover the mortgage and ongoing costs with some breathing room, this may be workable. If you don’t have a cash cushion, or if you can’t meet a landlord’s obligations abroad, this could be the wrong choice.
In many cases, the best first step is to get a realistic rental picture from a local rental agent and then talk to a rental agent mortgage advisor who can check lenders on the likely rental price, your equity and what you can borrow for the next purchase.
Hiten Ganatra is director of Visionary finance