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The Right to Buy is a government-initiated program designed to provide eligible residents living in council-owned properties with the opportunity to purchase their homes at a discounted price. This scheme allows secure tenants of council properties, who have spent at least 3 years as public sector tenants (non-consecutively), to buy their homes and become homeowners.
By speaking to a mortgage advice in Beverley, they can help check if you are eligible for the scheme. Alternately, to keep yourself updated with the rules and regulations, you can also check out the government Own Your Home website.
Determining the exact cost of your Right to Buy property involves various factors. The discounted price is influenced by the property’s market value, the length of time you’ve been a public sector tenant, and the type of property you are buying. Generally, the longer you’ve been a tenant, the higher the discount you may receive. However, the specific calculations can vary, and it’s advisable to consult with a knowledgeable mortgage advisor in Beverley to get a precise estimate based on your unique circumstances.
One big advantage of a Right to Buy mortgage is that it is most likely that there is already equity in the house, this could knock some off your house price or be used as part of your deposit.
Often when purchasing a Right to Buy you will be a first time buyer, we love working with first time buyers! As your friendly mortgage broker in Beverley, we are here through every step of the process, from your initial enquiry through to completion.
The Right to Buy scheme extends the chance for eligible council or housing association tenants to acquire their property at a discounted rate, often serving as an equivalent to a deposit. However, it’s crucial to bear in mind that additional costs, such as legal fees and survey expenses, may still apply. For a personalised understanding based on your circumstances, seek advice from a mortgage broker in Beverley.
The mortgage process for a Right to Buy involves several steps. First, you’ll need to obtain a Right to Buy application from your local council. Once approved, you can start the mortgage application process. This includes assessing your eligibility, determining the discounted purchase price, and securing a mortgage offer. The process also involves legal and financial checks before the completion of the purchase.
The discount for a Right to Buy is calculated based on various factors, including the length of time you’ve been a public sector tenant, the type of property, and its market value. Generally, the longer your tenancy, the higher the discount percentage. The discount is then applied to the property’s market value to determine the discounted purchase price. Specific calculations may vary, and seeking mortgage advice in Beverley from a knowledgeable mortgage advisor is recommended for accurate information based on your circumstances.
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5.00 Rating44 Reviews
Hannah
I can't thank everyone enough for their help. They went above and beyond to make sure everything went smoothly - it would have been far more stressful had I not had their support. I'd recommend the company to anyone.
3 months ago
Anonymous
Yery good and professional.
4 months ago
Samuel
Helpful, responsive and friendly.
7 months ago
Sophie
Highly recommend! Chris talked me through everything and made sure I understood it all, great communication and a pleasure to deal with!
8 months ago
Kerry
Absolutely fantastic from start to finish, would highly recommend 😀 5*
11 months ago
Anonymous
My advisor Leo provided the personal tour ch through the whole process and his communication was very good, even texting me at weekends with any updates on my mortgage progress.
1 year ago
Anete
During mortgage application process my mortgage advisor and case handler was communicating with me very often which for me as a first time buyer was very important. Always open for questions and super flexible with first initial mortgage...
1 year ago
Anonymous
From start to finish perfect, friendly, professional and everything made clear and easy, Matt and Lizzi have been absolutely superb and ALMOST got use to my 'colourful language' Many thanks for all your help. Cheers 🍻
1 year ago
David
We use Beverleymoneyman - Mortgage Brokers for all our mortgage and insurance needs. They never fail to deliver and apply professionalism combined with insightful advice to obtain the best possible deal. Thanks to Leo and Jo for their help and...
1 year ago
Neil
This is the second time we have used Beverleymoneyman and we are not disappointed. Daniel talked us through the options we had and was really good at answering our questions. Jo ensured our application progressed and kept us informed at each...
1 year ago
Barbara
These people saved my life during the most stressful house purchase ever. All sorts of things happened and when most of the professionals involved were impossible to get hold of, everyone at UK Moneyman was just amazing, kind, thoughtful and...
1 year ago
Nicole
Could not recommend Matt and Megan enough! Being a first time buyer, I did not know what the buying process would entail. Thankfully, Matt and Megan explained everything as we went along. Matt went above and beyond to answer my calls when we...
2 years ago
Liam
Really good service and friendly too
2 years ago
Angela
Very pleased with the the service. Dan was very helpful and explained everything as the process went along in a clear way. All options were looked to see which would be the best option for myself. This made doing the product transfer hassle free.
2 years ago
Darren
Anna was brilliant from first contact to the end of the process was just a few days and I didn’t have any stress at all Will definitely recommend
2 years ago
Chris
Brilliant service from start to finish, we had no idea on the process and every little question has been answered along the way no matter how trivial. We can’t thank Malcolm, Joe and Lyndsey enough for their help throughout this process and for...
2 years ago
Oliver
Wayne and Meghan were great and everything was sorted without issue or effort. Great advice and got the product I needed. Great service.
2 years ago
James
I first used UK Moneyman when buying my house in 2017. I returned in 2021 for my remortgage. In both instances I found Malcolm and his team to offer excellent service, making the process clear and simple. He talked me through every step, and...
2 years ago
Gemma
Very helpful and professional
2 years ago
Laura
Very helpful. Reply to emails quickly and clearly. Would definitely recommend
2 years ago
Initiating a conversation with a well-informed mortgage advisor in Beverley is crucial to delve into and address your unique mortgage circumstances.
A diverse range of lenders provides tailored products for individuals leveraging the Right to Buy scheme, presenting a diverse array of specialized options.
Our committed mortgage advisor in Beverley takes the lead in smoothly submitting your mortgage application and ensures that all necessary documentation requested by the lender is well-organized.
Going beyond the task of securing the most suitable mortgage deal, we excel in assisting individuals in obtaining insurance coverage to provide financial protection for themselves and their loved ones.
We extend a complimentary mortgage appointment to every customer, providing the convenience of online booking through our new system. Choose a date and time that aligns with your schedule, or connect with our team via phone for assistance in booking your free mortgage appointment.
Our dedicated mortgage advisors in Beverley are experts in navigating through 1000’s of mortgage deals to discover the ideal product tailored to your personal and financial circumstances. As a Right to Buy applicant, you have access to various product options, and we are here to assist you in finding the perfect deal!
Our amiable mortgage advisors in Beverley are available seven days a week to address all your mortgage inquiries. Connecting with an advisor is always seamless. Reach out today for expert Right to Buy mortgage advice in Beverley.
Determine if you are eligible for the Right to Buy scheme. Eligibility criteria may include being a secure tenant in a council property and having a qualifying period of public sector tenancy, usually at least three years.
Once eligible, obtain a Right to Buy application form from your local council. Complete the form and submit it to initiate the application process. The council will assess your eligibility and provide you with an offer, including the discounted purchase price.
Once you have the offer from the council, secure a mortgage to fund the purchase. Consult with a mortgage advisor to explore suitable mortgage options, considering your financial situation and the discounted purchase price.
After obtaining a mortgage, summarise the purchase process. This involves legal and financial checks, completing necessary paperwork, and arranging the transfer of ownership. Once everything is in order, you can complete the purchase and become the homeowner.
It’s crucial to note that specific details and steps may vary, and it’s advisable to seek guidance from a mortgage advisor in Beverley to navigate the Right to Buy process effectively.
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Beverleymoneyman.com & Beverleymoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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Beverleymoneyman.com & Beverleymoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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