Buy Your Council House Under the Right to Buy Scheme
If you wish to purchase the council home you are living in, and are named on the tenancy agreement, you may have the right to purchase the from the council at a discounted price. Generally, there won’t be a need for a deposit, due to purchase price being discounted. Here, we provide some Right to Buy Mortgage Advice in Liverpool.
Also available with some of our Mortgage Lenders now, are Capital raising options for home improvements, such as a new conservatory, windows or extension.
The Right to Buy process
The first thing you’ll need to do is contact the council for an application form. This will be followed by them checking that you are eligible for the scheme. Once this is completed, you’ll receive a purchase price which has to be accepted within a specified time period.
Finally, after a purchase price has been agreed, we can set the wheel in motion with your mortgage application.
How is the discount is worked out?
The percentage of this discount depends on varying factors, such as location and the length of time you’ve been a council tenant. One of the big advantages of Right to Buy is that due to the discount, there is often equity in the house already. How much equity, like the discount, also depends on varying factors. These include how much your discount is and the value of the property.
How does it work? Get a quote nowMeet your advisor