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