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Right to Buy Mortgage Advice in Halifax

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We can Help you buy Your Council House Under the Right to Buy Scheme

The Right to Buy scheme was introduced by the government to allow people living in council-owned properties the opportunity to buy them at a discounted price. You are eligible for the Right to Buy scheme if you are a secure tenant of council property and have spent at least 3 years as a public sector tenant. These three years don’t have to be consecutive.

 

There are multiple factors that will determine what price you will pay for the property. The government are most likely to take into account things like how long you’ve lived there, where you are in the country and how long you’ve been a council tenant etc.

 

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 local friendly Right to Buy Mortgage Broker in Halifax, we are here through every step of the process, from your initial enquiry through to completion.

 

How does it work? Get a quote nowMeet your advisor

We search 1000s of mortgage deals across a large number of lenders, including:

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The Right to Buy Process

  • Firstly, you’ll need to contact the council and ask for an application form – This confirms your eligibility!
  • Once you’ve been accepted, you’ll receive a purchase price, of which you’ll have a set amount of time to accept.
  • Lastly, once a purchase price has been agreed on, we can get the ball rolling with your mortgage application!

Working out your monthly outgoings may be greatly beneficial to you if you are thinking of buying your council home. Our recommendation is to work out what you have now as a tenant, then compare that to what it would be like if you were a homeowner. We are more than happy to help you out with this part.

 

Get in touch to book your free mortgage consultation in Halifax.

Why choose us for Right to Buy Mortgage Advice in Halifax?

  • Free, no obligation mortgage consultation for all customers.
  • Our friendly mortgage advisors are here 7 days 8am – 10pm to answer all of your mortgage questions, getting through to an advisor will never be a problem.
  • We can search and compare 1000’s of mortgages, to find the right one for you.
  • We can provide our mortgage advice service in Halifax over the telephone whenever you choose.

What our customers say

Common mortgage
questions

Our free consultation typically lasts up to an hour or so. We can turn round an agreement in principle within 24 hours. A formal mortgage offer takes about three weeks on average.

The discount provided by the council will often be used by lenders as your deposit. Some lenders, however, will require you to put down a deposit in addition to the discount. This is sometimes the case if you’ve been struggling with credit problems. Our Mortgage advisors in Halifax are able to answer your right to buy deposit questions.

As your mortgage broker in Halifax, we carry out a Fact Find to establish your personal needs before we recommend the most suitable mortgage for you. A credit check is then required for an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been undertaken, a formal mortgage offer can be issued.

Your free mortgage consultation in Halifax will last around one hour. We will then recommend a mortgage for you with no obligation for you to proceed and you can decide whether or not you wish to proceed with the mortgage.

To avoid possible disappointment, we recommend you obtain an Agreement in Principle before you begin viewing properties in Halifax. At the very latest you should obtain one prior to making an offer to assist your bargaining position.

An Agreement in Principle typically lasts for between 30 and 90 days depending on the Lender used. If your Agreement in Principle expires it can always be refreshed.

It may be possible to get a second mortgage on your home for things like debt consolidation or Home Improvements. It may also be possible to take out a mortgage on a second property if you’re wanting to use it for yourself, a family member, a holiday home or a Buy to Let.

If you have had credit problems you can still get a mortgage but you may possibly be required to put down a higher deposit than usual, perhaps 15% of the property purchase price.

Once you have submitted at least one year’s accounts, you are able to get a mortgage. Most Lenders use your salary plus dividend to calculate the maximum mortgage, whereas others are known to go off your net profit.

It’s usually three payslips for an employee to prove income and the latest 2 years’ accounts for Self Employed. You will also need to produce proof of ID, address and 3 months’ bank statements.

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We make it so easy!
Our 4 step process

Step 1

Contact the council for an application form and check your eligibility for the scheme.

Step 2

You'll receive a purchase price and from there we can take some initial details and book you in with a Mortgage Advisor in Halifax.

Step 3

From there your dedicated advisor will work by your side, ensuring the process goes smoothly.

Step 4

We’ll try to find you the most appropriate mortgage deal. We’ll be there to support you, right through to completion.

A telephone call where we can take some initial details and find out about your plan of action.

Enjoy finding a property!

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

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UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
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