The Right To Buy scheme, Introduced in 1980, gave many council tenants the option to purchase their home at a discounted price. The actual level of discount you are entitled to depends on the area you live, and therefore can vary.
How can Mortgage Chance help?
With a dedicated team of Right To Buy specialists, we work closely with the lenders who offer finance on Right To Buy Mortgages.
Because of the discount given by the local authority, we can often arrange the mortgage where no deposit is needed, and if required, additional money can be raised for home improvements etc.
Right To Buy - Do You Qualify?
Many council tenants don't realise they have the right to buy their home, or that they can expect a discount roughly proportional to the number of years they have been paying rent.
- Secure tenant for 2 years, or for tenants registered on or after 18/01/2005, must be continuous tenants for 5 years.
- Assured tenant of a registered UK landlord or housing association & formerly a secure tenant at the same address prior to change of ownership.
- Accommodation not provided in connection with your employment, age, or in some cases, disability.
To learn more about your rights, visit the Right To Buy section of the website of the Department for Communities and Local Government, or contact us:
Think carefully before securing other debts against your home. Your
Home may be repossessed if you do not keep up repayments on your mortgage. The overall cost for comparison is 6.9% APR. The Actual rate
available will depend upon your circumstances.
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illustration.
