Home Buying Experts Right to Buy

We are the Right to Buy Mortgage Experts

We can help you find & arrange your Right to Buy Mortgage and specialise in helping people with poor credit.

We are Google 5-Star Rated

Help to Buy Figures to Your Inbox

Get Right to Buy Mortgage Figures Delivered to Your InBox

Complete our short form with a few of the basics and we'll email and text you the best Right to Buy Mortgage rates available. 

Help to Buy Mortgage Approval

Get Your Right to Buy Mortgage Approved in 15-mins

If you are serious about starting the Right to Buy Mortgage Approval process - give us a call on the number below and we'll be happy to help guide you through the process.  We don't charge up-front fees and all calls are confidential.

How Much Can You Borrow?
How Much Can You Borrow?

Right to Buy: 
How Much Can You Borrow?

Different Right to Buy Mortgage Lenders offer different maximum loan amounts. Here's how you should do your research.

Documents You'll Need
Documents You'll Need

Right-to-Buy: 
Documents You'll Need

Getting your documents together at the start of your mortgage application will really speed things up for you. Here's a handy list.

Right to Buy 7-Step Guide
Right to Buy 7-Step Guide

Right to Buy: 
The 7-Step Guide

This is your quick go-to guide for everything you need to know about the Right to Buy application process.

Your Questions, Answered.

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Poor Credit - Can I still get a Right to Buy Mortgage?

Yes you can.  When applying for a Right to Buy mortgage (with a poor credit history) the rule of thumb is - nothing within the last 3 months.  Anything outside of that and you have options.

1

County Court Judgements (CCJ)

2

Defaults

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Missed/Late Payments

4

Pay Day Loans

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Bankruptcy (discharged)

6

IVA (Individual Voluntary Arrangement)

7

DMP (Debt Management Plan)

If you have had any or all of the above and have the opportunity to buy your council house under the Governments Right to Buy scheme, give us a call to help you arrange your mortgage.

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What is the Right to Buy Scheme?

Under the Governments Right to Buy scheme, you can buy your local authority council house at a price lower than the full market value. The discount available to you depends on the length of time you have been a council tenant.

The maximum discount is £82,800 across England, except London, where it’s £110,500. 

The discount is based on:

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How long you have been a tenant with a public sector landlord

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The type of property you are buying i.e. a council flat or a house

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The value of your council home

You are required to keep your property for a minimum period of 5 years.  If you sell within this time you may have to repay some or all of the Right to Buy discount.

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Is my property eligible for the Right to Buy Scheme?

If you live in a local authority property and are a tenant of a Right to Buy landlord, you probably have the Right to Buy.  A Right to Buy landlord is one of the following:

1

A district council

2

A county council or county borough council

3

A London borough council

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Am I eligible for the Right to Buy Scheme?

If your answer is ‘yes’ to all of the following, you should be eligible for the Right to Buy:

1

Is the property your only or main home?

2

Have you been a tenant for more than 3 years?

3

You can confirm that you do not live in sheltered or other housing suitable for the elderly or disabled?

4

You can confirm you don’t have any legal problems with debt?

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You cannot buy your house if you are an un-discharged bankrupt, have a bankruptcy petition pending against you, entered into an Individual Voluntary Arrangement (when you would have made arrangements with people that you owe money to and still owe them money) or have obtained a debt relief order.

5

You can confirm you do not have any outstanding possession orders against you?

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How do I apply for the Right to Buy Scheme?

1

Complete the Right to Buy application form (RTB1 notice).

2

Send it to your landlord.

3

Your landlord must get back to you within 4 weeks of getting your application (8 weeks if they have been your landlord for less than 3 years).

4

If your landlord agrees to sell, they’ll send you an offer.  They must do this within 8 weeks of saying yes (12 weeks if you are buying a leasehold property).

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You have 12 weeks, from receipt of your landlords offer, to accept the Right to Buy. 

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Can I sell my Right to Buy home?

You’ll have to pay back all of the discount you got if you sell within the first year.  After that, the total amount you pay back reduces to:

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80% - Year 2

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60% - Year 3

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40% - Year 4

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20% - Year 5

If you sell your home within 10 years of buying it through the Right to Buy, you must first offer it to either:

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Your old landlord.

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Another social landlord in the area.

The property must be sold at full market price.  You can sell your home to anyone if the landlord does not agree to buy it within 8 weeks.

Important: The amount you pay back is as a percentage of your home’s value when you sell it, not when you bought it.

You may not have to pay back the discount if you transfer ownership of your home to a member of your family.

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Right to Buy - Did you know?

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Up to 3 family members, who’ve lived with you for the past 12-months (even if they do not share your tenancy), can apply for Right to Buy.

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You request an independent valuation if you think the landlords is too high.

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You can get a further reduction in the purchase price of your council home if your landlord does not respond within the set time limits detailed above. 

Prosper Home Loans LTD

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Market Leading Rates

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14-Day Mortgage Offer

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Free Right-to-Buy Mortgage Review

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Access to 150+ Mortgage Lenders

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Est. May 2006

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No Up-Front Fees

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5 Star Google Rated

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Access to 5k+ Mortgage Rates

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