The Right to Buy scheme gives council tenants the right to buy their property from their council at a discount. Buying a home is a long term financial commitment so always make sure you get independent financial and legal advice before you make the decision.
If you have been a secure council tenant for at least two years (or five years if you became a tenant after 18 January 2005) you are likely to have the Right to Buy your council home at a discount. The amount of discount depends on how long you have been a tenant. For example if you have lived in a house for five years the discount is 35 per cent of the market value of your house. If you have lived in a house for 20 years the discount is 50 per cent.
However, the discount is limited to the maximum amount available for your area so you will need to check with your local authority who owns the property.
If you qualify for right to buy and are ready to look for a mortgage, our qualified and experienced brokers can find the very best quote to suit your needs from over 200 lenders; banks, building societies and other lenders.