right to buy mortgages

A right to buy mortgage works in the same way as a typical residential mortgage, and anyone purchasing their council house through this scheme has access to the same deals as any other buyer. The right to buy scheme allows tenants of public-sector homes in England to buy the property that they are currently renting. This scheme is also open to some housing association tenants. The purchase price is discounted below market value depending on the length of time that you have lived in the property. 

We are right to buy specialists and can guide you through the full process from enquiry to completion. Contact us today for a free initial consultation.

Right to buy eligibility

In England, you can apply to buy your council home if:

• You are to be living in the property and it is your only home
• The property is self-contained, meaning that you do not share any rooms such as kitchen, bathroom and toilet with anyone outside your immediate household.
• You are a secure tenant, meaning there is a legal contract between you and your public sector landlord.
• You have had a public sector landlord for at least three years, for example a council, housing association, NHS trust or the armed forces. This does not have to be three years in a row and can have been across multiple homes.
• You have no legal issues with debt, for example a county court judgment.

It is also possible to make a joint right to buy application if you don’t wish to buy alone. A joint application can be with the person that you share your tenancy with, or with up to 3 family members who have lived with you for the past 12 months.

Your property may be repossessed if you do not keep up repayments in line with the lenders schedule. Think carefully before securing debt against any property.