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Right to Buy Mortgage Advice in Doncaster

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

Right to Buy gives eligible people who live in council properties in England the right to buy their home at a discount.

 

The scheme is open to people who are secure tenants of a local council and who have spent at least 3 years as a public sector tenant.

 

Tenants of housing associations who had secured tenancies when their homes were transferred from the local council to the housing association also have a preserved Right to Buy.

As there is a lot of equity already in the house no deposit is required for the purchase. There are also options with several mortgage companies to borrow additional funds to fund home improvements such as new windows/doors, conservatory etc.

 

How The Discount Is Worked Out

The discount percentage depends on varying factors, such as where you are in the country and how long you’ve been a council tenant. A big advantage of Right to Buy is that due to the discount, there will usually be equity in the house already. How much equity again depends on varying factors, such as how much your discount is and the value of the property.

 

We often find that those who utilise the Right to Buy Scheme are First Time Buyers in Doncaster. We love working alongside First Time Buyers and are here throughout every step of the process. This starts with your initial enquiry, all the way through to your 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 Doncaster.

Why choose Doncastermoneyman as my Mortgage Advisor?

  • All customers get a free initial mortgage consultation with us.
  • We pride ourselves on our 5-star mortgage service. Our genuine reviews are proof of the hard work we put into helping you.
  • Our team work from 8 am until 10 pm, every day, to ensure we can fit appointments around your busy schedules.
  • We’re solely invested in you. No banks, no estate agents, no builders. You’re our priority.
  • We can offer face to face or telephone Mortgage Advice in Doncaster, the choice is entirely yours.
  • The advisors will try and compare 1000s of mortgage products from a wide variety of lenders, in the hopes of finding the best possible mortgage deal for you.

What our customers say

Common mortgage
questions

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 Doncaster are able to answer your right to buy deposit questions.

Your free mortgage consultation in Doncaster will last round about 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.

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

To avoid possible disappointment, we recommend you obtain an Agreement in Principle before you begin viewing properties in Doncaster. 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’ve had credit problems in the past you are still able to get a mortgage but you may possibly be required to put down a higher deposit than usual for the property, 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.

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.

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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 Doncaster.

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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Doncastermoneyman.com & Doncastermoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.

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Doncastermoneyman, 3 Cavendish Court, South Parade, Doncaster, DN1 2DJ.

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