Right To Buy Mortgage
Right to buy mortgages may apply to you if you have lived in a council house for 5 years and have decided to buy it out. If you are entitled to buy your home through the right to buy council scheme, you may also be entitled to a “right to buy discount”.
You must declare to the council that you are considering buying your council house before you look into things further so that they are aware of the situation. Then you must apply to buy your council house, which involves filling out an application form which the council will then asses and come to a decision as to whether or not you would benefit from buying out your council house.
This type of mortgage is suitable for long standing tenants who have lived in their council house for a very minimum of 2-5 years and the right to buy discount will be larger for those who have rented their council property for longer.
When considering right to buy mortgages you must look into the open market valuation (OMV) of your property as well as the maximum available discounted price so that you can see the price range that your property could be sold to you for.
Contact Us Today
We look forward to assist you with your Right To Buy Mortgage enquiries. If you have any questions please call us today on: 01524 543902 to find out more.
