What is a Right to Buy in Hull?
The Right to Buy Scheme is a mortgage and home buying scheme ran by the UK government that allows council home renters who are eligible across England to buy their current home from the council at a discounted price. The amount that will be discounted depends on how long you have been renting that property.
To qualify for a Right to Buy Hull, you need to have been living, renter for at least three years (this doesn’t necessarily have to be one after another) from either a council or housing association.
When you are in the market to purchase your home via the Right to Buy Scheme, the property will be valued at the same full price that it would be put at on the open property market, with the government discount being applied to your purchase beforehand.
Purchase Your Council House Under the Right to Buy Scheme in Hull
As open & honest mortgage advisors in Hull, we always try our very best to help those who contact us, leaning on our wealth of mortgage knowledge and experience to provide our customers with expert Right to Buy Mortgage Advice in Hull.
Generally speaking, because of the amount of discount that is applied to the purchase price for the home renter, they won’t always need a deposit. There are of course cases where this doesn’t happen, but it tends to be quite a common occurrence.
The homebuyers discount has a few different factors that determine how much it’ll be. These can include how long you’ve been a tenant in the public sector, what sort of property you’re looking to buy and how much the property is worth.
If you have already made use of the Right to Buy Scheme in the past, you may receive a slightly lower amount of discount. If you’re looking to fund any home improvements, there may be further options that you can use for this.
What is the process of a Right to Buy in Hull?
First of all, in order to access this scheme you’ll have to take a look and see if you’re eligible and request an application form from your local authority on housing. Once they have your application, they will let you know what the property purchase price is and how much discount you’re going to receive on it. You have a limited time to accept this offer.
We will be readily available to help you out all throughout your mortgage and beyond, providing you professional advice on solicitors and property surveys when necessary. Included in your free mortgage appointment, our advisors will help you figure out how much you could be spending on your mortgage and help you find the best deal.
How does it work? Get a quote nowMeet your advisor