Buy Your Council House Under the Right to Buy Scheme
Right to Buy gives council tenants the opportunity to purchase their council property at a discounted price. In a Right to Buy sale, the property is given a market valuation and then a government discount is applied. Most lenders will accept your Right to Buy discount as a partial or total mortgage deposit.
Your right to buy process will start with checking your eligibility and applying for an application form from the council. Once you have received an offer notice which sets out the property value and your discount, you then have a set time to accept the offer. We are able to help you source the best mortgage deal for your right to buy purchase as well as solicitors and surveys when required.
How The Discount Is Worked Out
The discount percentage depends on varying factors, such as where you are in the country and how long you’ve been a council tenant. A big advantage of Right to Buy is that due to the discount, there will usually be equity in the house already. How much equity again depends on varying factors, such as how much your discount is and the value of the property.
We often find that those who utilise the Right to Buy Scheme are First Time Buyers in Grimsby. We love working alongside First Time Buyers and are here throughout every step of the process. This starts with your initial enquiry, all the way through to your completion.
How does it work? Get a quote nowMeet your advisor