Right to Buy Mortgages
Right to Buy Council House Mortgages
Welcome to Council Right to Buy mortgages from Cheap Mortgages in the UK.
There are now numerous lenders offering you the chance to purchase your council house using a Right to Buy (RTB) Mortgage.
Council Right to Buy Mortgages
If you have lived in your council property for a fair length of time then you may be able to buy the property from the council. The chances are they will be able to offer you a discount on the valuation value of the property. You will of course need to contact them first to get the exact details of any discount offers they may have and an idea of the valuation of the property.
The opportunity to buy your council house or flat can therefore present a very good investment opportunity, as well as the obvious benefits of owning your own home! So to make the transition from tenant to home owner as easy as possible our brokers will help you find the best Right To Buy Mortgage deal available. The search will encompass the the whole UK mortgage market. Our brokers are waiting to hear from you and include you amongst the thousands of successful mortgage applicants we have helped so far; apply here.
Who will lend on a right to buy mortgage?
There are a number of lenders who will be able to offer you a mortgage at standard rates for a right to buy on your council property. There are also a number of specialist schemes to buy council properties where there may be other circumstances including a poor credit, CCJs etc. With so many different mortgage products available in this category a specialist mortgage advisor used to right to buy mortgages will give you advise and offer you a number of different product options. To get a free no obligation quote to see how much it would cost just click on the link above.
How much can you borrow?
Most lenders that lend on right to buy properties will lend up to 95% - 100% of the RTB Price - that is the price you will have to pay to buy the property. Also when calculating your loan to value they will use the OMV - that is the Open Market Value of the peoperty.
If you look at our example below this will give you an idea of how loan to value LTV works etc.
So this means that for example if you were buying your council house:
Valued at OMV £100 000
But you can buy it at RTB Price £75 000
Then they would count your purchase as being on a 75% loan to value. Since you would be able to borrow the 100% being £75,000.
Benefits of applying through Cheap Mortgages
- Compare all right to buy mortgages — compare mortgage rates and payments on all council right to buy mortgages
- Council house purchase mortgages for right to buy scheme (RTB mortgages)
- Right to buy mortgages for people with bad credit, first time buyers, directors and self employed.
- Best mortgage advice, cheap mortgage rates, simple applications.
Right to buy mortgages for all your Council property mortgage needs in the UK when you are looking to secure a mortgage from cheap--mortgages.co.uk
Apply for a UK Council Right to Buy Mortgages
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
This site is intended for UK residents only. The overall cost for mortgages for comparison is % APR. The actual rate will depend on your circumstances. APR variable and based on a usual case. There may be an additional charge for advise on these loans.
Cheap Mortgages is a trading name of Grovelawn Limited, which is authorised and regulated by the Financial Services Authority.
Grovelawn Limited is Registered in England & Wales number 5030300. Registered Address: 98 Station Road, Sidcup, Kent, DA15 7BY.
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The Financial Services Authority (FSA) do not regulate some types of buy to let, commercial, overseas mortgages, tax advice and credit or loans not secured on property.