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Right To Buy Mortgage

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Right to Buy’ is a Government scheme that gives people who are renting homes in the public sector (either council housing or via a Housing Association) the ability to buy their home at a discounted price, lower than the prevailing market value. There are also similar schemes in Northern Ireland, Scotland and Wales, although the rules are slightly different.

Right to Buy mortgage will help you purchase your council house or Housing Association property under the Government’s Right to Buy scheme. While there is no specific ‘Right to Buy mortgage’ product, mortgage advisers will always tailor their advice to suit your situation.

As someone who is aiming to buy their council house home through the Right to Buy scheme, you will have access to the same range of mortgages as any other borrower, and will be assessed by lenders in exactly the same way as anyone else.

The amount lenders will be willing to lend and the interest rate you will be charged will depend largely on the size of the deposit you are able to provide as well as other criteria such as your credit history and current income.

 

Maximum cash discounts are £16,000 to £38,000. The level of the maximum discount available depends on where you live. Applications for the Right to Buy received by social landlords before 21 November 2024 from eligible tenants will be eligible for the previous maximum discounts of £102,400 across England, or £136,400 in London boroughs.

Applications for the Right to Buy received by social landlords before 21 November 2024 from eligible tenants will be eligible for the current discounts.

 

If you are thinking of applying for your Right to Buy, you should get independent legal and financial advice about your individual circumstances, and to help with the legal process of buying a home. You may also want to get independent financial advice about the different types of mortgages that are available. This information is accurate as of 13/12/2024. 

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01904 263012

Mortgage Tree - Mortgage Advisors York - Services & Standards

Mortgage Tree offers a nationwide mortgage broking service from our base near York, North Yorkshire. We specialise in mortgages and insurance. Whether you are a first time buyer or you are a buy to let investor with multiple properties, Mortgage Tree will ensure that you get the most suitable products available.

We are a Whole Of Market broker which means that we will choose the most suitable mortgage for you from the hundreds available on the UK mortgage market. Our network also gets specially discounted deals from lenders which are available to our network.

 

We also provide insurance cover that will give you & your loved ones a blanket of protection that is so vital. We will endeavour to give you the best service that we can at all times.

Jason Gentles t/a Mortgage Tree  (FCA No. 502275) is an appointed representative of Julian Harris Mortgages Ltd (FCA No. 304155), which is authorised and regulated by the Financial Conduct Authority.

The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details of the FOS can be found on its website at www.financial-ombudsman.org.uk

Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Please note that some mortgages such as commercial BTLs are not regulated by the FCA.

The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.

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