Option to purchase my council property using the ‘Right to Buy Scheme’
A wide range of lenders provide right to buy mortgages so your first step should be to contact us today, and we will run through the mortgage options available to you.
In the meantime we thought you may find the following information on right to buy useful.
You may be eligible to qualify to buy your council home if you are a secure tenant of either; a London Borough council, a district council, a non-charitable housing association, or a housing action trust.
Discounted rates are usually offered to council tenants for their homes. So if you are a council tenant wanting to buy your home, the rate you will pay will depend upon how long you have lived there. The amount of discount you will receive is roughly in proportion to the number of years you have been paying rent.
Once you have received the right to buy your council property, you need to think about how much you would like to borrow and how much you can afford to borrow. Some borrowers like extra monies for home improvements. Most lenders will allow the client to borrow enough for the discounted purchase price and a set amount for home improvements subject to affordability. All borrowers will need to be on the right to buy papers.
If you need any more information, then simply speak to an expert today.