Right to Buy Mortgage
Council Right to Buy, If you have lived in your council house for a while then you may be able to buy the property from the council at a discount. You will need to contact them to get the exact details of:
- The open market value of your property
- The price you will have to pay to buy the property (Right to buy price)
Not all lenders will lend but there are a number of lenders that will lend on their normal terms on right to buy properties. As well as this there are a number of schemes especially designed for right to buy properties where there may be other issues.
Amount You Can Borrow
Most lenders that will lend on right to buy properties will lend up to 95% or 100% of the Right to buy price. Also when calculating your loan to value they will use the open market value.
This means that for example if you were buying your council house:
- Valued at open market value £100,000
- But you can buy it at Right to buy price £75,000
Then they would count your purchase as being on a 75% loan to value.
With an access to the whole of mortgage market, we can offer you the widest possible choice. We at UK Financial Matters, our specialist advisors can help and advise even if you
Have poor credit history
Self employed
Self certification/ No proof of income
We will help you understand the difference between the various offers, and help you secure a mortgage that suits your needs and circumstances.
Mortgages can be arranged over the phone or we can arrange a face to face meeting at our bright and friendly office and our advisors would be very happy to assist you.
Please note that we will always advise you and make our recommendation for any of mortgage products we offer.
We do not charge any broker fee for giving advice and arranging mortgages. We will be paid by commission from the lender.
Please fill up a short enquiry form online or call us now to arrange an appointment on 0800 311 2012 or you can e-mail us with your contact details and preferred times to enquiries@ukfinancialmatters.co.uk
