What is a Right to Buy in York?
With the Right to Buy Scheme, eligible home renters across England can purchase their property from the council discounted rate. However, to find out first if you qualify for this scheme check out the Own Your Home website eligibility checker. Then, we are able to help you with your mortgage.
If you are thinking about buying your council property in York, this is the information you’ll need and the steps you should take.
If you have been renting the property for a minimum of 3 years (this doesn’t always have to be consecutive) and have been renting from the local authority, you may fit the criteria within the government Right to Buy scheme’s criteria.
In the Right to Buy sale, the property will be valued at full market price as it would if the landlord chose to put it on the market, and then a government discount is applied before purchase.
Purchase Your Council Property Under the Right to Buy Scheme
Here at Yorkmoneyman, our team of expert Mortgage Advisors in York aims always to help those who get in touch by utilising over 20 years of experience working in the industry to provide open and honest Right to Buy Mortgage Advice in York.
Depending on the size of the discount offered to the home renter, their home purchase will not require a deposit. However, this doesn’t always apply to all, but it can happen.
The local authority will determine the homebuyers discount from a couple of factors, including the length of time you have been a tenant within the public sector, the type of property you hope to purchase with the scheme and the actual property value in question.
If you have previously used the Right to Buy Scheme, you could face a much lower discount.Capital raising options for home improvements, such as a new conservatory, windows or extension are also available with some of our mortgage lenders.
Right to Buy Mortgage Process
Firstly, you need to check if you are eligible for this scheme to get in touch and request an application form from your local authority. You have a set amount of time to accept their offer. Once you have received this back, you will be informed what the property purchase price is with the discount applied.
Next, we need to find you a suitable mortgage. We will be on hand to help you throughout the entire mortgage process, advising on solicitors and property surveys when applicable.
As part of your initial free mortgage appointment, we can help you work out your potential mortgage costs and match you up to the appropriate deals.
Generally speaking, we find that those who utilise the Right to Buy Scheme are First Time Buyers in York. As a fast and friendly Mortgage Broker in York, we love working alongside our customers and are here throughout every step of the mortgage process, starting with your initial enquiry, all the way through to your completion.
How does it work? Get a quote nowMeet your advisor