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. It's worth speaking to a mortgage broker to help find you a suitable mortgage, solicitors and survey as and when required. Book your free mortgage appointment online today to speak to a mortgage advisor.
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.
Why use a mortgage broker to help me get a right to buy mortgage?
A mortgage broker like us can search 1000's of deals to find you the most suitable mortgage for your circumstances. Book your free mortgage appointment online to speak to a mortgage advisor today.
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.
Getting a new mortgage or porting an existing mortgage isn’t always easy. We’ll be here to answer all your questions throughout the whole process.
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 Rating211 Reviews
What can I say simply the best
UK Moneyman's recent financial health check was incredibly thorough, well-communicated and professional and had a very positive outcome in terms of excellent income protection cover. They have also sourced two excellent mortgages for me on my...
I have used ukmoneyman's services for two mortgages and they have been absolutely amazing! My case had particular challanges, complexities and some technical misfortunes here and there. However Lyndsey and Leo have always kept me up to date,...
the staff are extremely supportive, friendly and helpful. I highly recommend them.
It was nice talking to moneyman this morning and I managed to book my first appointment on the same day, how amazing is that
We needed a specialised mortgage so using a broker was a no brainer. We didn't know what to expect but UK moneyman made the whole process smooth for us. Communication was amazing. Thankyou to Leo and Kerry.
Could not have been more helpful. Friendly and approachable and worked really hard to get us what we needed. Withdrawn highly recommend and will be using Moneyman in the future.
Brilliant service from the start and throughout!
This team really are fantastic, I carried out a RTB mortgage and they have executed perfectly, thanks again to the whole team. Very professional and fast acting.
Very smooth service
We contacted UK moneyman as our first mortgage advisor didn’t work out. After our first conversation things moved quickly, they were thorough with what information we needed to give them, which meant when it came to applying for the mortgage...
IT WAS LOVELY TALKING TO Helen today She was very professional and friendly and very helpful I am looking forward to her colleague Thomas calling me back at 3:30 as a range from conversation on telephone
Everyone at UK Moneyman was really helpful, polite and efficient throughout the process of getting our mortgage offer. As first-time buyers, the process seemed very overwhelming at the beginning but Charlie talked us through each step at the...
Dale was very good and very prompt thank your for your help dale
I spoke to Leaghne and she was very helpful and very patient and polite in all discussions we did. It was very easy to get through.
Really helpful and friendly team that got us the mortgage we wanted.
The service from Charlie and Chloe was outstanding! Charlie was by our side through all the start of the process and Chloe took over later on and helped with every issue we had to make sure everything ran smoothly. They both went above and beyond...
Warm Welcome. Understandi
Just spoke to Aaron very thorough good lad
Seemed a nice, friendly guy. Seemed to understand and actually interested in our application.
Read our 211 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.
