Right to Buy Mortgage Advice in Derby

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We can help you buy Your Council House Under the Right to Buy Scheme

In England, the Right to Buy Scheme has provided the chance for tenants to buy their council property partially discounted, subject to the applicant’s eligibility.


The criteria that you need to meet to be eligible for the scheme includes you renting for at least 3 years from the local council or housing association and you also have to be secure tenants of council property.


Your 3 years of renting do not have to continuous, however, this does depend on to your personal circumstance. This is why a Mortgage Advisor in Derby can be helpful to see if you are eligible.


To keep up to date with the rules and regulations that entail with the Right to Buy Scheme, check out the government Own Your Home website.


When it comes to utilising the Right to Buy Scheme, the property will be first valued at full market price and before purchase will be when the government discount will be applied.


Having one of our experienced Mortgage Advisors in Derby by your side, providing the knowledge you need and expert Right to Buy Mortgage Advice in Derby, to give you a step up in achieving your home-owning goal.

How much deposit will I need?

It’s situations like these where having the help of a Mortgage Broker in Derby, like ourselves, can be a massive benefit. We can provide support and help by advising on the best option to take as well as finding you a mortgage that best suits your situation.


There are certain criteria that the local authority has put in place to help determine your discount. This includes the duration you have been a tenant within the public sector, the type of property you are looking to purchase, as well as how much the property is worth.


In some cases, you may look at borrowing additional funds for home improvements like new door, windows and conservatories, however, this will require you getting permissions from your local authority.

Right to Buy Mortgage Process

At the start of the process, you will need to see if you are eligible and obtain an application form from the council. When you meet the criteria, you will get an offer notice which entails the property value and your discount. From this point, you have a certain amount of time to accept their offer.


As a helpful and caring Mortgage Broker in Derby, we not only help with your mortgage, but can provide help with sourcing solicitors and surveys when they’re needed. When attending your initial free mortgage appointment, we can provide you with an understanding of how your mortgage will cost and if you qualify.


How does it work? Get a quote nowMeet your advisor

We search 1000s of mortgage deals across a large number of lenders, including:

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Common Right to Buy Mortgage Scenarios

Our Mortgage Advisors in Derby have extensive experience in the mortgage industry and regularly come across people seeking to purchase their property from the local council or housing association.


With the help of the Right to Buy Scheme, a scheme introduced by the government, we can help customers who are currently renting to start their mortgage journey. Below we have comprised a helpful list of the steps that you will need to take in order to successfully obtain a mortgage using the Right to Buy Scheme in Derby.

Checking Eligibility

Getting in touch with the council or housing association is your first port of call to begin the process. To determine if you are eligible for the Right to Buy Scheme, you will be asked a few questions in order to see if you match up with the criteria.

Purchase Price

On condition that you are eligible for the scheme, your local authority will offer you a price to buy the property. From this, you are afforded a chance for some thinking time and are given a deadline of which you will need to provide them with an answer before.

Start Your Application

When you have obtained your discounted purchase price via the local authority you now need to contact your Mortgage Broker in Derby for them to assess your eligibility and affordability for a mortgage.


When we have found an appropriate deal for you, it’s then time to let your local authority know that you agree to their offer and agree to their offer would like to purchase the property. At this point we can process your full mortgage application.

Open & Honest Mortgage Broker in Derby

By now you would have spoken to your local authority or housing association as well as checked you are eligible to qualify for the Right to Buy Scheme and understand the amount of discount that will be applied. Now, you need to contact a Mortgage Advisor in Derby.


In doing this, you’ll be able to find out if your circumstances are suitable for taking out a mortgage, which will be checked over by a Mortgage Advisor in Derby. They will collate information regarding your income and expenditure in order to establish if a mortgage is feasible and affordable for you.


If you are wanting more information about the Right to Buy Scheme, check out the Government OwnYourHome website.


Get in touch to book your free mortgage appointment in Derby.

Why choose us for Right to Buy Mortgage Advice in Derby?

As a trusted Mortgage Broker in Derby, we aim to help individuals who get in touch including those who are looking to use the Right to Buy Scheme, by providing them expert Mortgage Advice in Derby.


We will be with you throughout your mortgage journey, from your first call with us to the end of the process. Your designated Mortgage Advisor in Derby will be there to answer any questions you may have.


A massive benefit of going to a Mortgage Broker in Derby, instead of a bank or building society, is that we have access to 1000’s of mortgage deals all fitting for a wide range of customer circumstances.


Beyond this, we can also help with sourcing conveyancing solicitors, as well as advising the best survey for you.


We understand that the Right to Buy process is not always a smooth journey, which is why we work hard to conquer any obstacles we encounter. Our team are here 7 days a week from early until late to provide Mortgage Advice in Derby at your best convenience.


Please read our genuine customer reviews, the service you receive and your happiness is really important to us.

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Common mortgage

The vast majority of lenders will use the discount given by the local authority as a deposit for your mortgage. That being said, some lenders will still require you to put down a deposit in addition to this purchase price discount. This can occur more often with customers that have had or still have credit problems. A dedicated and hardworking mortgage advisor in Derby will be able to help with your right to buy deposit questions.

Your initial free mortgage consultation in Derby will last for roughly about 30 mins. An advisor will then recommend a mortgage for you, that you are under no obligation to accept and proceed with, if you decide it’s not for you.

As a dedicated and trusted mortgage broker in Derby, we will carry out a Fact Find to establish your circumstances & needs prior to recommending the most suitable mortgage for you. A credit check will then be required for an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been carried out, a formal mortgage offer can be issued to you.

We would highly recommend you obtain an Agreement in Principle prior to property viewings in Derby, to avoid possible disappointment, especially as this can boost your bargaining position pre-making an offer and can be obtained with the help of one of our mortgage advisors in Derby, free of charge.

A standard Agreement in Principle generally lasts for between 30 and 90 days depending on which lender you are with. If your Agreement in Principle happens to expire, it can easily be refreshed.

If you’re looking to make any potential home improvements or consolidate any debt, then it can be possible to get a second mortgage on your home. Second Mortgages are also usable for if you are wanting to take out a mortgage for a family member, a holiday home or a Buy to Let.

If you have had credit problems, it could still be possible for you to get a mortgage, however, you may need to put down a higher deposit than usual. This could be 15% of the purchase price.

You may still be able to get a mortgage once you have submitted at least one year’s accounts. Typically we find that, for the most part, lenders will use your salary + dividend to calculate the maximum mortgage. Alternatively, some may go off your net profit.

To prove your income to a lender, it’s usually three payslips for an employee. If you are self-employed, it’s the latest 2 years’ accounts. In addition you will need to produce the lender with proof of ID, address and the latest 3 months’ bank statements.

Your free initial mortgage consultation will typically last up to 30 mins. Our team have the ability to obtain an agreement in principle within 24 hours. A formal mortgage offer will take about three weeks on average.

We make it so easy!
Our 4 step process

Step 1

Contact the council for an application form and check your eligibility for the scheme.

Step 2

You'll receive a purchase price and from there we can take some initial details and book you in with a Mortgage Advisor in Derby.

Step 3

From there your dedicated Mortgage Advisor in Derby will work by your side, ensuring the process goes smoothly.

Step 4

We’ll try to find you the most appropriate mortgage deal. We’ll be there to support you, right through to completion.

A telephone call where we can take some initial details and find out about your plan of action.

Enjoy finding a property!

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

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Authorised and Regulated by the Financial Conduct Authority.
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The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
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