Right To Buy Mortgage

If you need a mortgage to buy your council home, you've come to the right place. Our Right To Buy mortgage advisers scour the market to find the best RTB deals for you, the customer.

What is a Right To Buy Mortgage?

The Right To Buy scheme was introduced in 1980 to allow council tenants to buy their own homes. Since then, hundreds of thousands of former tenants have been able to get a foot on the housing ladder - and at heavily discounted rates. As a council tenant, you'll be able to get a discount of up to £38,000 off your council house or flat. The maximum discount available depends on the area you live in, and type of property, amongst other things.

Ready to get your free Right To Buy Mortgage quote?

If you are eligible under the Right To Buy scheme, you'll need to get a special kind of mortgage - not the normal repayment mortgage that you can get from the high street lenders. A Right To Buy mortgage can work in two ways.

What's The Process Of Getting A RTB Mortgage?

Firstly you need to apply to your local council to see if you're eligible for the right to buy scheme. If you've been a council tenant for more than two years you should be eligible. Once accepted into the scheme, your home will be valued. You'll then be told the Open Market Value (in other words, how much you could sell your house for on the open market), and also the discounted price (in other words, the amount you'll actually have to pay for your home).

You then need to contact a RTB mortgage specialist (like Pinnacle Financial), who'll be able to assist you every step of the way. Often you can actually borrow based on the Open Market Value, so that you could actually borrow more money than you need - you could use the extra cash to add double glazing, in place of home improvement loans, or to pay off other debts, for example. You could even use a loan to pay for a wedding!

The right to buy mortgage specialist will typically charge a fee for their services. This fee will cover all the different aspects of helping you buy your council home. For example:

• Solicitors fees
• Land registration
• Credit references
• Valuation of your home
• Broker fees

Reasons To Get A Free Right To Buy Mortgage Quote Today

• Very low RTB mortgage rates.
• Free, friendly, professional advice from a right to buy mortgage professional.
• Free no-obligation quote.
• Employed and self-employed
• Bad credit? No problem!
• All circumstances considered.

Once you're a homeowner you'll be eligible to apply for a secured loan, which is secured against the equity in your home. Lenders typically offer a much lower APR rate, as compared to tenants or those who live with their parents. If you're a key public sector worker, you'll often be able to get a lower rate loan or mortgage. For example, loans for teachers tend to be particularly good value.

Get your free Right To Buy Mortgage quote now