Right To BuySecure property from council
Right to buy is a government scheme that gives eligible tenants in England , Wales and Northern Ireland the opportunity to purchase their property from the council. Residents who have been living in a council property for at least two years, are secure tenants or have had a public sector landlord for 3 years (doesn’t have to be continuous) could be eligible to buy their property at a discounted price.
Although a right to buy property is usually valued at the full market price, the Right to buy scheme often does not require a deposit due to the government discount applied to the purchase price. However, the discount percentage will depend on various factors including how long you have been a council tenant for and where you are located in the country.
This scheme is often utilised by first time buyers as it is usually a better long-term option than renting and also because it helps them buy their own home without requiring a deposit.
Here at Norfolk Finance, we guide you through the Right to buy process, working with you every step of the way to ensure you get the best deal from top lenders. We liaise with the lenders and also help you complete the paperwork, thus, making the process easy for you.
The total amount you can borrow would vary from Lender to Lender and the amount stated above is an estimate of the maximum amount you can borrow based on your income.
The actual amount you can borrow will take other factors such as your credit score and current credit commitments into consideration. Thus, this should be used as a guide.
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