If you are a tenant of a local council or housing association, you may find that you qualify for a Right to Buy in Canterbury. This scheme allows you you to purchase the local authority rental property that you are currently living in, for a discounted price. The purchase price is calculated by applying a discount from the value of the home on the open market, whilst the discount you receive is determined by how long you have been a public sector tenant. In order to use a Right to Buy in Canterbury, you will have generally needed to be renting from a local authority for at least 3 years, not always consecutively. This means, for example, you could live as a council tenant for 2 years, move into a private residence for a few years, then back into a council home for an additional year, and still potentially be eligible.Get Started
You may have the ability to borrow additional funds on a Right to Buy mortgage in Canterbury, though you will have to discuss this with your mortgage lender if this is something you would like to achieve. Even if you do happen to have bad credit, you could still be able to obtain a Right to Buy in Canterbury. Bad credit is a term that is typically associated with those who have a lower credit score, which can make obtaining a mortgage challenging. Please feel free to read our guides on how to improve your credit score, ahead of your Right to Buy in Canterbury. Mortgage lenders will want to review your credit history if you are looking to proceed with a Right to Buy in Canterbury. If you have anything like a CCJ or default, this could potentially deter a mortgage lender or at least be seen as a risk to them. They will want to see how long these were, why they happened and how much money was involved. We believe you would benefit from speaking to an experienced and trusted mortgage broker in Canterbury. They will help you find a suitable mortgage, solicitors and survey as and when required. Book a free mortgage appointment and speak with a dedicated mortgage advisor in Canterbury today.Apply Now
Though it was brought into prominence way back in the 1980s, the UK Right to Buy Mortgage Scheme is still present in the world of mortgages and is available to eligible tenants in Canterbury who wish to purchase their home at a discounted purchase price. The scheme has undergone several changes in the days since its inception, yet it still remains a valid option for prospective first time buyers in Canterbury. Thousands of tenants over the years have taken advantage of a Right to Buy in Canterbury, en route to becoming homeowners.
In order for a home buyer to obtain a Right to Buy in Canterbury, you need to know whether or not you qualify for one. This can be achieved by requesting an application form via the local authority. When the local authority has received your application form, they will get back to you with confirmation of your eligibility, as well as the discount you are due to receive and the overall property price once it has been applied. During your initial free mortgage appointment, a member of our trusted mortgage advisors in Canterbury will work with you to check eligibility and total potential mortgage costs, as well as finding the best mortgage deal for your circumstances. Throughout your home buying journey in Canterbury, we will be there to help by advising on solicitors and property surveys when appropriate to do so.
Generally speaking, the vast majority of mortgage lenders will accept the right to buy discount as your deposit, although some will want you to put down either your own deposit or a combination of a deposit and the discount. It is important to remember that there will still be other fees involved in your mortgage process, so it would be wise to keep some savings for that ahead of time.
Any family member can buy your council home, so long as they have been signed onto the tenancy for at least one year. If you are married or have a civil partner, providing that they already reside in the home with you, they can also have tenancy transferred onto them. At that point, they would be eligible for a Right to Buy in Canterbury, though it would be in their name and not yours.
Being on any type of benefits will not change your legal Right to Buy eligibility. That being said, from a mortgage lenders perspective, they need to know that you can afford to maintain your monthly mortgage payments. One thing that may be affected is your ability to receive any benefits that are exclusive to being a tenant, such as Housing Benefit, which you will not be eligible for if you are a homeowner.
An open & honest mortgage broker in Canterbury like us can search 1000s of deals for your Right to Buy in Canterbury, finding the best mortgage for your circumstances. Book your free mortgage appointment and speak with a trusted mortgage advisor in Canterbury today.
We have the flexibility to work around your personal life, with appointments at times that are best suited to you.
There are no hidden fees, nor fees up front. We are only paid upon successfully helping you.
You will have consistency throughout your service, dealing with the same friendly familiar faces, they'll be happy to answer any questions.
Some people can find process a bit daunting when using the right to buy scheme in Canterbury, transitioning from home renter to homeowner. We'll be here to guide you through the process.
Your mortgage advisor in Canterbury will recommend the most suitable insurance products to make sure you can stay in your home, should you become seriously unwell or unable to work.
Your mortgage advisor in Canterbury will search the market for the cheapest, most suitable deal for you and your aspirations!
Over the years, we have worked hard to help many customers in similar situations. It's likely we will have come across a circumstance like yours!
Perks of going to a mortgage broker in Canterbury is that we can help recommend property surveys and conveyancing solicitors. We will make sure you are supported all throughout your mortgage journey, right until the end.
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