Burger Menu

Right to Buy Mortgage Advice in Doncaster

Get Your Free Consultation 7 Days a Week

01302 288250

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:

Mortgage Lenders 001
Mortgage Lenders 002
Mortgage Lenders 003
Mortgage Lenders 004
Mortgage Lenders 005
Mortgage Lenders 006

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 mortgage service. Our genuine reviews are proof of the hard work we put into helping you.
  • Our team work 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.
  • 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

Lenders will often use the discount provided by the council as your deposit. In some cases though, there are lenders out there who will require you to put down an additional amount as a deposit, on top of the discount. This can be the case if you’ve been struggling with any particular credit problems. Our dedicated and hard working Mortgage Advisors in Doncaster will do their best to answer your right to buy deposit questions.

Your free initial mortgage consultation in Doncaster will last roughly one hour. We will then be on our way to recommending a mortgage for you, where you have no obligation for you to proceed. If you’d rather not take it and step back for a time, you have every right to do so.

Your mortgage advisor in Doncaster will carry out a Fact Find to establish your personal mortgage needs, before recommending the most suitable mortgage for your situation. A credit check will then be required in order for you to obtain an Agreement in Principle, which we are able to help with. Once you have provided the lener with all the relevant documentation, and you have had a valuation of the property completed, a formal mortgage offer can then be issued.

To avoid finding yourself disappointed when viewing and making offers on properties, we recommend you obtain an Agreement in Principle ahead of time. At the very latest, we recommend that you obtain one prior to making an offer, as this will assist your bargaining position.

An Agreement in Principle will usually last for between 30 and 90 days depending on the Lender that you are with. If your Agreement in Principle expires, you can easily have it refreshed.

You may have the option of taking out a second mortgage on your home for things like debt consolidation or any potential Home Improvements. It may also be possible to take out a mortgage on a second property to use on yourself, for a family member, a holiday home or even a Buy to Let.

If you’ve had credit problems previously, you may still have a chance at getting a mortgage, but you may possibly be required to put down a higher deposit than for the property than you might have if you had with good credit. This can often be 15% of the property purchase price.

You are able to get a mortgage, once you have submitted at least one year’s accounts. The majority of Lenders use your salary plus dividend to calculate the maximum mortgage amount you can borrow, whereas others will go off your net profit.

You’ll generally be required to send three payslips if you are a standard employee to prove income and the latest 2 years’ accounts for self-employed. You will also need to produce proof of ID, proof of address and the previous 3 months’ bank statements.

The free mortgage consultation that you receive when getting in touch, will typically last up to an hour. We can help you obtain an agreement in principle within 24 hours of this consultation, with a formal mortgage offer taking on average about three weeks.

Previous

Next

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.

Handy quick links

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.

© 2021 Doncastermoneyman

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

Moneyman Logo







Moneyman Logo




Moneyman Logo







Moneyman Logo

Book your Free Consultation

7 Days 8am - 10pm

Moneyman Logo

Moneyman Logo

Moneyman Logo

Ask Your Question





    Moneyman Logo