Right to Buy isn't as straight forward as a normal home purchase but don't let that put you off, let us arrange everything for you

Use your discount offered by the council as your full deposit!

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    Mortgage Calculator

    Please try out our mortgage calculator below to see what your mortgage repayments might look like. Please bear in mind that this is only an estimate and a guide and is not an indicator of what is available, please contact us for more information.

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    Your Guide to Right-to-Buy Mortgages

    Learn all about right-to-buy mortgages, when you might need one and how to secure this kind of mortgage.

    What is ‘Right To Buy’

    If you have been renting a council or housing association property for at least three years, you can now apply for the ‘Right-to-Buy’. This scheme permits current tenants of these homes to purchase the property for a discounted rate, the maximum being £96,010 across England and £127,940 in London.

    The longer you have been a council tenant the bigger the discount you’ll receive. Often you won’t need to find a deposit either as many mortgage lenders will accept the discount as your deposit.

    You can apply for this via your local council and you’ll need to have a valuation on your property to determine the ‘market value’ and the ‘discounted purchase price’. For help throughout the process, with all of the paperwork and of course finding the right mortgage for you, then please get in touch with our experts.


    What Are Right-to-Buy Mortgages?

    A ‘right-to-buy mortgage’ refers to a mortgage acquired by someone who has rented a council or housing association property for at least 3 years and has met all of the lending criteria.

    Rates and products wise, your access to all different kinds of mortgages won’t differ from anyone else purchasing a property. However, some lenders may include specific conditions in their loan agreement.


    How Do Right-to-Buy Mortgages Work?

    Right-to-buy mortgages work by determining how long you have been a tenant and the current market value of your rented home. Those who have been living in a council or housing association property for longer are entitled to a higher discount. A 3 year tenant would be entitled to a 35% discount. After 5 years, the discount goes up 1% for every extra year you’ve been a public sector tenant, up to a maximum of 70% or £87,200 across England and £116,200 in London (whichever is lower)

    If you’re unsure how much discount you may be entitled to you can get in touch with AP Mortgage Solutions for more information. We’ll discuss your tenancy and your situation, helping you understand how much you’d have to pay when buying your home.

    To be eligible for a right-to-buy mortgage, you have to meet the following criteria:

    • Have been living in your current council or housing association home for at least 3 years.
    • Be able to afford the monthly mortgage repayments and meet the lenders affordability criteria
    • Have a sufficient credit score to be accepted for the mortgage

    Contact us for expert advice on the whole right-to-buy process.


    Right-to-Buy Deposits and Discounts

    It’s possible for you to use your discount as a deposit on your council or housing association property, meaning you might not have to save anything to purchase your home. However, certain lenders do ask for some form of deposit, usually around 5%, to secure the property.

    You can discuss the logistics of deposits and discounts with AP Mortgage Solutions. We’ll offer our expert advice on your situation, helping you secure a right-to-buy mortgage for your home.

    Your home may be repossessed if you do not keep up repayments on your mortgage


    Remortgage Downloads

    Below are some PDF files that you may find useful when considering taking remortgage

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    What is a remortgage

    We hope the remortgage video helps explain things but if you're unsure then just drop us a line and lets talk about your options

    Can I borrow additional money when I apply for my mortgage?

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    In some circumstances you are able to borrow more that the discount purchase price when you make your application. The only reason you are allowed to borrow more money is for home improvements and not all lenders allow this as part of their lending policy around right to buy.

    As an example of what may be possible lets assume you are buying your council home and you have a discount of 40% and the value of your home is £100,000.

    Specific lenders would allow the following – you could use the 40% discount as the deposit and ordinarily borrow £60,000 to purchase your home, but you think that you’d like to renovate the kitchen and bathroom. You know that this will cost you £15,000 to do. as long as we have quotes showing this then some mortgage lenders will allow you to borrow £75,000 (£60,000 for the purchase and the additional £15000 for the renovation works) at the same time.

    Before You Do Anything Else – Have You Read Our Reviews? Click Here To Read Them!

    If you’re thinking about applying for the right to buy the first place to start is by talking to us so we can make sure that you’ll be able to get the mortgage that you’ll need. Once we have confirmed you are eligible for a mortgage we can help you with the right to buy application and talk you through the full process along with helping to explain the legal side and making sure that your paperwork is filled in correctly to prevent time wasting and unnecessary delays to your home ownership.

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