Right to buy mortgages

Right to buy mortgages

What is Right to Buy?

Originally introduced in the 1980s by the Thatcher government the Right to Buy scheme gives many council (and now housing association) tenants the option to purchase the home they already rented, at a significant discount from the market value.

  • It must be your main or only home
  • It must be a fully self-contained dwelling with no shared facilities
  • You must have been a tenant with the council, housing association or NHS trust for a total of 3 years (not necessarily in this property or 3 consecutive years)
  • As applicant you cannot have any legal issues with existing debts

If you have shared your property with someone for more than 12 months then they can be joint applicants on your right to buy mortgage application which might help you with mortgage affordability.

  • The discount is based on how long you’ve been a tenant and the value of the property
  • Maximum discounts;
    • £108,000 in London
    • £80,900 for the rest of England
    • £24,000 for Northern Ireland
    • The Scottish and Welsh devolved governments withdrew the scheme.

Your right to buy mortgage

Your right to buy mortgage will enable you to purchase the property from the council or housing association

Our right to buy mortgage experts will work with you to ensure that you’ll be eligible for the mortgage and that it will be affordable.

You can call us free on 0808 164 2364 or complete the form below for a call back.

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