The government’s Right to Buy scheme is currently more popular than ever and gives council tenants the right to buy their properties at a large discount.
Freedom Advice has been helping people in Leeds and throughout Yorkshire purchase their council homes for over 20 years, and we are now one of the go-to mortgage brokers for people looking to take advantage of the Right to Buy scheme.
One of the biggest advantages of the scheme is that you don’t have to save for a deposit as you can use the Right to Buy discount.
The majority of lenders will use a Right to Buy discount as a deposit, although this isn’t always the right solution for everyone. We can take a look at your personal situation and advise on the right level of Right to Buy discount available to you.
It’s also worth noting that even with a Right to Buy discount, you will still need to save money to buy your council home as there are mortgage fees and surveying costs that you will need to pay-up front.
These fees can total several thousands of pounds.
If you’re applying for a Right to Buy mortgage it’s important to note that you will be subject to the same affordability criteria as any other applicant.
This means that you will have to pass income and credit checks and assessments with a mortgage lender.
If you are self-employed, it is likely that you will be asked to provide your income details, as well as the accounts of your business.
Freedom Advice is dedicated to delivering unbiased mortgage advice for our customers.
Totally flexible in our services, we can arrange a meeting in our offices or in a location of your choosing.
With thousands of mortgage options to choose from, and an in-depth knowledge of the market built on over 20 years’ experience, we are able to find the most suitable mortgage for your personal situation.
From offering advice to help you save, through to guiding you through the entire mortgage process, fill in the form below to see how we can help.
Alternatively, call us on 0113 829 3465 for a no obligation consolation, or visit our contact page to request more information.
As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments. Think carefully before securing other debts against your home.