Right to Buy Mortgages in Canterbury

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.