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The Right to Buy Scheme allows tenants in England to purchase their council property partially discounted, if they fit the criteria to be eligible for the scheme.
As long as you have spent at least 3 years renting from the local council or housing association and are secure tenants of council property, you may be eligible for the government Right to Buy Scheme.
These 3 years do not necessarily have to be consecutive, though this varies depending on the situation. It is always worth getting in touch with a Mortgage Advisor in Lincoln to check your eligibility. You can also check the government Own Your Home website to keep updated with rules and regulations regarding this scheme.
In the right to buy sale, the property will be valued at full market price and then a government discount applied before purchase.
Our Mortgage Advisors in Lincoln can help you achieve your home-owning goal by using their knowledge and experience within the mortgage industry to provide expert Right to Buy Mortgage Advice in Lincoln.
The process begins with you checking that you are eligible and requesting an application form from the council. Once you qualify, you will receive an offer notice which sets out the property value and your discount. You then have a set period to accept this offer.
As an open and honest Mortgage Broker in Lincoln, we can help with your mortgage, solicitors and survey as and when required. As part of our initial free mortgage consultation, we can give you an idea of how much your mortgage will cost and if you qualify.
Most lenders will take the discount as a deposit, however, some will require you to put in your own money too. It’s worth speaking to a Mortgage Advisor in Lincoln like us to find a suitable mortgage that best suits your needs.
The local authority has set criteria that help them work out the discount, such as how long you’ve been a tenant within the public sector, what type of property you are looking to purchase and how much the property is worth.
There are also options to look at borrowing additional funds for home improvements such as new windows, doors and conservatories, but you will need to seek permission from your local authority.
The Right to Buy is a government program that allows council tenants to buy their homes at a discount. The mortgage process for a Right to Buy purchase is similar to the process of buying any other property, but there are some specific steps and considerations to keep in mind.
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4.99 Rating106 Reviews
Thomas
All of the members of the team I spoke to including Jason and Stacey were fantastic. They answered all my questions and provide support where needed. I would definitely recommend
4 weeks ago
Anonymous
We reached out to just see where we stood in regards to our borrowing limit and we’ve come out the other end with a mortgage offer and we are going down the route of getting out own home! This never would have been possible without the help of...
8 months ago
Mr Jamie
Daniel was very friendly, knowledgeable and explained everything to us in enough detail without being overwhelming. He gave gentle reminders for things that we had forgotten to do and got us a very good deal for our remortgage. Would highly...
8 months ago
Anonymous
We had a great experience arranging a remortgage with Dinah and Paula. Our situation was a little complicated, but we received very practical advice and they assisted us right through the process. It was all very straightforward in the end. Thank...
10 months ago
Anonymous
Excellent service. Jason has been very helpful and encouraging every step of the way, especially considering our complex circumstances. Easy to set up video calls to discuss matters and email communication has been very quick, detailed and achieved...
10 months ago
Charlotte
Charlie has been nothing but helpful, answers all questions thrown at him, takes the time to explain what everything means which has been hugely helpful as a first time buyer! It’s been a really quick and smooth process from the rest of the team...
11 months ago
Anonymous
Jason and Megan were absolutely brilliant! Both helping me through the entire process.
1 year ago
Hope
Matt & Paula have been so great and efficient in supporting us as first time buyers. Not once did we feel overwhelmed during the process which is great given that we came into this not knowing what to expect. Everything has been quick and efficient,...
1 year ago
Thomas
Matt was incredibly honest and helpful throughout the process even though he was aware I was speaking to a variety of advisors at my point of contact. His knowledge, responsiveness, and willingness to discuss options available to me, made him the...
1 year ago
Hannah
Matt and Stacey were really helpful in sorting our remortgage out. Matt was quick to get back to us when we had questions and Stacey was always on hand as support
1 year ago
Alexander
Dinah has always been available and communicated any changes or good advice we needed. We really appreciate your support
1 year ago
Emma
Quick, efficient, informative service
1 year ago
Milly
Charlie Bryson has been fantastic, supporting me as a first-time buyer from getting an agreement in principle to viewing houses and then through to a mortgage offer in just two weeks! It was a pleasant surprise to find a broker who could explain...
1 year ago
Tori
My mortgage broker was Leo! He’s always been amazing and Iv been dipping in and out for a few years. He really helped me and found the best deals and explain everything I didn’t understand. He was always there on hand and if he had any...
1 year ago
Matthew
Very quick and helpful service.
1 year ago
Andrew
Very helpful and efficient
1 year ago
Michael
Had the good fortune of having Louise H handling our mortgage/sale and she was fantastic throughout. Often filling gaps in communication from our solicitor and regularly engaged from start to finish.
1 year ago
Gordon
I used Lincolnmoneyman when the Nationwide seriously let me down with their offer of a mortgage. Dan Osman was immediately helpful and explained the system and facilitated the set up of our equity release mortgage. With the help of his assistant...
1 year ago
Jordan
‘Great service as usual’
1 year ago
Justin
Daniel was so helpful, he gave us several options despite the worst time to change mortgages! We highly recommend them.
1 year ago
Having a conversation with an expert mortgage advisor in Lincoln is essential to discuss your mortgage scenario.
With a wide selection of lenders offering specialised products designed specifically for those utilising the right to buy scheme.
Our committed mortgage advisor in Lincoln will handle the submission of your mortgage application and organize any additional documentation required by the lender.
Alongside finding the most suitable mortgage deal, we are good at assisting those looking for insurance coverage to protect you and your loved ones financially.
From your initial phone call to completion, your dedicated Mortgage Advisor in Lincoln will be alongside you, ready to answer any questions you may have.
Unlike a bank or building society, our team of Mortgage Advisors in Lincoln can search through 1000’s of mortgage deals to find you the most suitable one for your circumstances.
Our goal as a Mortgage Broker in Lincoln is to help anyone who comes to us for Mortgage Advice in Lincoln, and this includes those looking to utilise the Right to Buy Scheme. We can also assist with conveyancing solicitors, helping decide on which survey would be the best.
The Right to Buy process is not always easy. We aim to help you over any hurdles we face. Our Mortgage Advice in Lincoln are available 7 days a week, morning, afternoon, evening or weekend; we work around you.
First, you need to contact and speak to either the council or housing association that owns your property and see if you are eligible for the Right to Buy Scheme. Next, they will ask you a series of questions to make sure you match up against the criteria.
Next, once you know that you qualify for the scheme, your local authority will offer you a price to buy the property, you don’t need to give them an answer straight away, you usually get a set time to make a decision.
Once you have got your discounted purchase price from the local authority it is then time to contact your Mortgage Broker in Lincoln to check your eligibility and affordability for a mortgage.
Once we have found you a suitable deal you can then apply to your local authority confirming that you would like to purchase the property, we can then process your full mortgage application.
If you are considering purchasing the property, you are currently renting through your local authority or housing association and have checked if you are eligible to qualify for the Right to Buy Scheme and know the amount of discount that will be applied.
Contact a Mortgage Advisor in Lincoln as we can check your eligibility for a mortgage, including gathering information on your income and expenditure to work out if a mortgage is viable and affordable.
Find out more information about the Right to Buy Scheme. Check out the Government ownyourhome website.
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Lincolnmoneyman.com & Lincolnmoneyman 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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Lincolnmoneyman.com & Lincolnmoneyman 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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