Right to buy
The original Right to Buy scheme was first introduced in 1980 giving most tenants living in local authority properties the right to buy them. The scheme offers you the ability to buy the homes that you have been living in (for a minimum of two years) at a rate discounted from that of market value.
The level of discount that you will receive will be calculated by the amount of years that you have been a public sector tenant up to defined limits set as maximum discounts for the local area. This means that you could get a discount of anywhere between 32% and 70% off the market value which makes the Right to Buy scheme attractive to many people.
The remaining value of the property is likely to need to be mortgaged and this is where we can help you with special right to buy mortgages.
The overall cost for comparison is 4.5% APR
The actual rate available will depend upon your circumstances. Ask for a personalised illustration.
For more information, please contact us