What is a Right to Buy in Doncaster?
The Right to Buy Scheme is a scheme ran by the UK government that allows eligible home renters across England to purchase their property from the council for a fraction of the value. The discount depends on the length of time that you have been renting your property for.
If you have been renting your home for at least 3 years (this doesn’t always have to be consecutive) renting from the local authority, you may find yourself within the criteria for the government Right to Buy Scheme.
When you are looking to buy your home via a Right to Buy, the property will be valued at the full price it would be on the market, with the government discount being applied to this amount prior to your purchase.
Purchase Your Council House Under the Right to Buy Scheme
As a team of dedicated mortgage advisors in Doncaster, we always strive to assist those who get in touch by utilising our many years of knowledge and experience within the mortgage world in order to provide a high standard of Right to Buy Mortgage Advice in Doncaster.
We typically find that due to the size of the discount being offered to the home renter, their home purchase will not normally require a deposit. This doesn’t always apply, but it has been known to happen.
The homebuyers discount will be determined from a couple of different factors, including the length of time that you’ve been a tenant within the public sector, the type of property you’re hoping to purchase with the scheme and the actual value of the property in question.
If you have used the Right to Buy Scheme at any particular point in the past, the discount applied may potentially be lower. There may also be further options on top of this to borrow the necessary funds for any home improvements.
Right to Buy Mortgage Process
The first thing you’ll need to do to access this scheme, is see if you are eligible and to request an application form from the local authority. Once they have received this back, they will inform you of the property purchase price and the discount that is to be applied. There is a set amount of time to accept their offer.
We will be on hand to help you throughout your mortgage and beyond, advising on solicitors and property surveys when applicable. As part of your initial free mortgage appointment, we’ll be able to help you work out your potential mortgage costs and match you up to the appropriate deals.
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