If you are a local authority tenant you may be eligible for a Right to Buy mortgage. The purchase is price is calculated by applying a discount from the open market value. The percentage discount you receive is determined by how long you have been a tenant for.
Get Started
Some lenders allow you to apply for extra money for home improvements when you take out a Right to Buy mortgage. You may need to provide estimates for the works required. It can be more difficult to obtain a Right to Buy mortgage with bad credit but it’s not impossible.
Apply NowDoes the Right to Buy Scheme still exist?
Originally being introduced back in the 80’s the UK Right to Buy Scheme is still very much alive and well for tenants who wish to buy their council home at a discount. The scheme has undergone changes since then, with schemes existing in various local authority areas across the nation that may allow tenants to use Right to Buy with housing associations too. Thousands of tenants over the years have taken advantage of Right to Buy to become homeowners.
How does council Right to Buy work?
The Right to Buy Scheme allows tenants to buy their property from their local council for a discounted price. The amount of discount that you receive depends on how long you’ve lived there. You must have been a public sector (council, housing association or NHS Trust) tenant for at least three years and the longer you have been a tenant the more discount you will get.
Do you need a deposit for Right to Buy?
No, lenders will accept the right to buy discount as your deposit. It is still worth remembering that you may need to have some of your own money saved for any fees that are incurred.
Can my children buy my council home for me?
Any family member is able to buy your council home, providing they have been signed onto the tenancy for at least 1 year. If you are married or have a civil partner, providing they already live with you, they can also have tenancy transferred to them. At that point, they would be eligible for the Right to Buy scheme in that home, however it would be in their name, not yours.
Can you buy your council house if you’re on benefits?
Being on any form of benefits will not change your legal Right to Buy eligibility, however any lender will need to make sure you are able to afford your monthly mortgage repayments. One thing that may be affected is your ability to receive certain benefits, such as Housing Benefit, which cannot be received if you are a homeowner.
We're flexible around your work and family, we'll be there when you need us.
No upfront fees payable, we are paid on results only.
You'll always know who you are dealing with.
No vested interests, do you want your builder or estate agent knowing your maximum lending when you're trying to negotiate your price, you'll receive a mortgage tailored to your needs.
Meaning you're safe and protected by our process, providing peace of mind. We take all the responsibility for the advice.
We shop around for the cheapest deal for you, saving you time and money.
There isn't a situation we haven't come across before, we fully understand your needs.
We'll help you overcome hurdles that you face along the way, for example, removing the stress of property survey and valuation problems.
4.98 Rating165 Reviews
Helen was very helpful and arranged us an appointment the same day with the mortgage advisor.
Mizna helped me out so amazingly for my life insurance. She rang multiple times to get everything right and even attempt to entertain my little one when he was getting restless on the phone. Could not recommend her enough.
Mizna has been fantastic throughout the process. Professional, understanding, helpful and reliable. Our previous life insurance policies had exclusions or price increases for certain hobbies and health conditions. Mizna managed to find us a better...
After being told by another broker that there were no mortgage options for me due to a patchy credit history I contacted UK Moneyman. I'm over the moon with the service from Matt, Molly, Megan and everyone else who helped me and my partner...
This company has been amazing in sorting our mortgage. Got the job done quickly and efficiently.
UK moneyman have been absolutely amazing helping me and my partner obtain a mortgage. We are both young and only had contracts of employment, but this was not an issue for them at all. Jason, Chloe and Dan have been so helpful, and frequently in...
Charlie was our broker can’t fault his work in any way. Very informative and really supportive. Thank you for everything guys 💕
Getting my first mortgage has been made super easy and stress-free thanks to Tom & Chloe. Can’t thank you enough! They’ve ensured everything is in place and have made it a really good experience. Tom and Chloe are so friendly; made...
Minza has been most helpful in sorting out our life cover and get the best deal. What a lovely lady to deal with. Very chatty and friendly. Thank you Minza!
Where do I start! Mizna rang me for a review and at first I dismissed it…. So glad I let Mizna review my existing policies, our medical questions weren’t documented probably, I didn’t have cover that I thought I had. Mizna has...
You could say I’m getting on a bit and I was worried that I wouldn’t be able to get a shortish term mortgage then I saw an advert for ukmoneyman and it couldn’t have been easier from start to finish. The whole process must have...
UK Moneyman has been a fantastic mortgage broker from the start to the finish of the process. They found us an excellent mortgage offer swiftly and efficiently- even going the extra mile by working with us between Christmas and New Year. As first...
Having had a very bad experience with the UK's supposed leading mortgage broker, our confidence had taken a huge knock. We came across UK Moneyman during a search for an alternative. And what a find! From the first initial call to being...
Excellent service throughout. I was kept up to date through the process and the mortgage illustrations we provided with were clear an concise. Definitely recommend!!
Mizna helped arrange life cover for me and my partner. She was very knowledge and professional taking the time to explore our individual needs. This gave us confidence that we took out the best policy to suit our circumstances. She helped guide...
Cannot praise the team enough for all their hard work and professionalism. Mizna Coates was brilliant all the way through the process and would highly recommend UK Moneyman to all friends and family going forward.
Very honest and helpful
Mizna Coates has done a fantastic and more importantly, unbiased and diligent job in advising us on a number of Insurance products ranging from life and critical illness to house insurance. Mizna is engaging, open and honest in her approach and the...
Dale was lovely and put me at ease for my initial call Thank you Dale
Great service from start to finish. Jason and Dan kept us informed throughout and really took the pressure off us.
Read our 165 Reviews
UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.
UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.
