We Can Help You Buy Your Council House Under the Right to Buy Scheme
Right to Buy is a government scheme that allows eligible tenants in England to purchase their property from the council for a discounted price.
To see if you meet the criteria of the scheme, then please visit the council’s website and/or give them a call and they will advise you on the right way to go about approaching the entry requirements for the scheme.
Usually, due to a large amount of equity in the property, a deposit is not often needed. Meaning, for some tenants, this can be a very good way of getting on the property ladder.
There are also options with several mortgage companies to borrow additional funds to fund home improvements. These include new double glazed windows, new doors, conservatory, extensions, conversions etc. A Mortgage Advisor in Hull, like us, can advise you on these accordingly.
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 Hull. 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