The Right to Buy scheme is a government-led scheme that gives the chance for many council tenants to buy their council homes at a discount price. The length of time that have you have been renting your property for will depend on the discount you will get.
The criteria may require you to have been renting your home for at least 3 years (this doesn’t always have to be continuous) renting from the local authority.
If you are looking into buying your home through the Right to Buy scheme, the property will be valued at the full price that it would be on the market. The government discount will come into effect before your purchase.
By speaking to a mortgage advice in Liverpool, they can help check if you are eligible for the scheme. Alternately, to keep yourself updated with the rules and regulations, you can also check out the government Own Your Home website.
To begin your journey of obtaining a Right to Buy in Liverpool, you need to know if you are eligible which is done through requesting an application form via the local authority. When they have received this, you will then know the property price and the discount that is to be applied.
Throughout your mortgage, as a mortgage broker in Liverpool we will be there to help by advising solicitors and property surveys when applicable. Your initial free mortgage appointment will allow our team to help you with summing up your potential mortgage costs and match you with the deals suitable for you!
In order to assess the amount you're eligible to borrow for a Right to Buy mortgage in Liverpool, your income, expenses, and overall financial capacity will undergo evaluation. Additionally, your credit score will be subject to review. Therefore, it's vital to assess your credit score beforehand and make efforts to enhance it prior to applying for a Right to Buy mortgage.
Typically, most lenders consider the discount as a deposit, but some might require a contribution from your own funds as well. Consulting a mortgage advisor in Liverpool is advisable to help identify a suitable mortgage that aligns with your financial situation.
The local authority employs specific criteria to calculate the discount, including your duration as a tenant within the public sector, the property type you intend to purchase, and its valuation. While we have certain lenders in our network who might permit additional borrowing for home improvements like windows, doors, and conservatories, obtaining authorization from your local authority remains necessary.
Your initial step involves determining your eligibility for a Right to Buy in Liverpool. This entails obtaining an application form from your local housing association or council. Once you've provided the required information, they will furnish you with the property's valuation and the applicable discount.
While there's no urgency to make an immediate decision, it's worth noting that an acceptance timeframe exists. Our service extends beyond finding you a mortgage, encompassing advice on solicitors and property surveys where needed.
During the initial mortgage consultation, we collaborate with you to estimate your affordable monthly payments and match you with optimal mortgage options tailored to your circumstances.
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Calum
Very good service very helpful
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Mike
Dan and the team were expert and efficient, providing sound advice in difficult circumstances - our property falling outside the norm that mortgage providers usually encounter.
1 month ago
Phillip
Dealt with Liverpool Money Man for initial mortgage, and re-mortgage. Fantastic service, everything explained thoroughly. Thanks.
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Amy
Charlie has been fantastic, we got in contact with him as we started house searching over a year ago and he was always available and willing to answer any of our questions no matter how stupid they were!
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Janine
Great service received from Tom. He made the first time buyer process run as smooth as possible and explained every step. Would recommend and will use again when I come to renew my mortgage.
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Elizabeth
Cannot recommend these guys enough - in particular Charlie and Paula. As first-time buyers, it felt like obtaining a mortgage would be stressful and overwhelming, but Charlie and his team went above and beyond to make sure we understood everything...
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Richard
Both Jason and Meghan have been fantastic. They sorted my mortgage application with a high Street lender with no problem. They also arranged some competitive quotes for my life and home insurances. This had the added bonus of reducing there fees as...
2 months ago
Adam
Chris Thompson was an absolute gent and pleasure to deal with. He made the whole process of buying a home calm, reassuring and with a personal touch that made it feel as though he was equally as happy for me as I was myself. Along with Lyndsey,...
3 months ago
Gemma
Lyndsey worked incredibly hard to make our new home possible, without this support and in-depth knowledge of the mortgage market we wouldn’t be completing our home purchase on Friday. Thanks for everything you have done over the last 3 months....
3 months ago
Sarah
Highly Recommend! Such a good service Jason and Jo made the whole process stress free from start to end.
4 months ago
Dylan
Great to work with, fast and reliable and very good communication
4 months ago
Paula
Brilliant service they get back to you when they say they will. So Patient and helpful.Special thanks to Jo
4 months ago
Stephen
10/10 above and beyond from Dan and Louise couldn’t recommend these guys enough top class service
5 months ago
Daniel
We're really happy to have chosen UKMoneyMan to be our mortgage advisor. As first-time buyers, we were originally daunted by the process, but Malcolm, Charlie, Jo and the team stepped in to make the process a lot easier to understand! We really...
5 months ago
Stacey
Great help in the process in securing my offer and would recommend to a friend Helpful with communication
5 months ago
Ronald
The Representative new his business and guided us through to completion without any major hurdles to climb
5 months ago
Julia
I cannot thank chris enough for all the hard work and support he has provided me right from my first contact, to finding me a mortgage and going through the survey with me and all the other help he has provided. Chris has gone above and beyond with...
5 months ago
Hannah
Fantastic, personalised service from beginning to end. Leo and Lyndsey were great at communicating when any issues arose, and keeping me informed of any updates.
6 months ago
Ellen
Matt and Jennifer have been wonderful. They have made a very intimidating process easy to understand and have guided me through the process every step of the way. Matt's experience will help you to secure the best mortgage whatever your situation,...
6 months ago
Michael
I have been with liverpoolmoneyman for 5 years now. Great service and advice as always. They help you every step of the way, I highly recommend them.
6 months ago
In order to begin your Right to Buy journey in Liverpool, you first need to check if you are eligible for the scheme.
You will need to contact the council or the housing association who owns your property. This is known as the “local authority” in the mortgage industry.
This will give you an understanding of if you qualify for the Right to Buy scheme as they can try and match you up with the criteria.
The local authority will be able to put forward a property price offer as soon as they know that your eligible. You will be given a time period that are able to accept the offer.
This is the part where our team comes in! When you have agreed to purchase your home form the local authority at the price offered, get in touch with us to begin your mortgage application.
In the circumstance where you are looking to purchase the property you are currently renting from the local authority; you need to see if you are eligible first and look at the property discount.
When you have worked the amount you will be able to buy the property for, it’s then time to contact a Mortgage Advisor in Liverpool. This allows you to know which lending criteria is the best for you in order to have a suitable mortgage.
To fully assess your financial profile, your expert Mortgage Advisor in Liverpool will look into your income and assess your spending habits. This can determine if you are able to afford to take out a mortgage on the property.
Through their extensive and thorough knowledge and experience within the mortgage industry, our expert team of Mortgage Advisors in Liverpool always aim to help with providing open and honest Right to Buy Mortgage Advice in Liverpool.
In many cases, the home purchase will not require a deposit because of the size of the discount being offered to the home renter. This is common; however, this is not always the case.
The amount of discount will be based on a range of factors like the duration you have been a tenant within the public sector, the type of property you are looking to purchase through the scheme as well as the overall value of the property you hope to get.
If your intention is to buy the property you presently rent from the local authority, the initial step is to determine your eligibility and evaluate the property discount available.
Once you have calculated the purchasing amount for the property, the next step involves reaching out to a mortgage advisor in Liverpool. This consultation will provide you with insights into the most fitting lending criteria, helping you secure an appropriate mortgage deal.
In order to comprehensively analyse your financial situation, your knowledgeable Mortgage Advisor in Liverpool will delve into your income details and evaluate your expenditure patterns. This assessment will ascertain your ability to afford a mortgage for the property.
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Liverpoolmoneyman.com & Liverpoolmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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Liverpoolmoneyman.com & Liverpoolmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
