Right to Buy

Right to Buy explained

The Right to Buy scheme offers council tenants, the affordability to purchase the property they live in.

If you have lived in your council owned property for 3-5 years, you may be eligible to buy the property at a 35% discount of the current market value. After 5 years, the discount rate increases by 1% per year to a maximum of 70% or £82,800.

Right to Buy mortgages

The Right to buy scheme does not require a specific mortgage product to purchase the property.

When purchasing a property under this scheme, you are subject to the same affordability criteria as other mortgages. You will need to meet the qualifying criteria required by the lender to be accepted for a mortgage.

Process

We believe in a simple step-by-step approach to help you find the right mortgage for your needs.  

Over the course of our appointments, we will find out about you and your current situation as well as what you are looking for in a mortgage. This will help us assess your circumstances and we can decide the best way to proceed. 

We will search for suitable products for you, through a range of mortgage deals across the marketplace and then present the most suitable offer for your needs in an easy to understand document.
‍

• We will learn about you and your needs
• Discuss your mortgage and protection requirements and affordability
• Provide recommendations tailored to your situation
• Explain the mortgage and reasons behind our recommendation in full  
  ‍

Fees

There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.

The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.

Contact an Expert

Our team of experts are here to answer any questions you may have without all the jargon. Get in touch now to see how we can help you reach your mortgage goals.