WHAT DO WE DO?
We pass on your no-obligation enquiry to a right-to-buy broker.
WHAT WILL THE BROKER DO FIRST?
Your personal broker will help in your search for the right-to-buy mortgage to suit you. They will search a range of providers including the high street banks and building societies.
THEN WHAT?
Their aim will be to help you decide on the most appropriate mortgage available for your circumstances.
WHAT IF I HAVE MONEY OR CREDIT PROBLEMS?
Many people have less than perfect credit. Your personal broker will have access to specialist mortgage lenders who accept applications from people with CCJs, defaults, IVAs, mortgage or rent arrears.
DO YOU COVER MY LOCAL AREA?
Yes, we cover the whole of England, Scotland, Wales and Northern Ireland.
WHAT DO I DO NOW?
Easy. Enquire about a right to buy mortgage now. All you need to do is to complete the quick no-obligation form to your right and your personal broker will contact you to discuss your requirements and help you through the process.
Introduction – the Right to Buy Warning – things to consider before deciding to buy your home
Who has the Right to Buy
Preserved Right to Buy
Rent to Mortgage
The discount rules Qualifying period
Reduction of discount (cost floor) Repayment of discount
What if I have purchased before?
Right of first refusal Buying a flat or maisonetteService charges
Other points on service charges
The costs of buyingHow much would I need to borrow?
Other costs of home ownership
Repair and maintenance
One off costs of buying your home
How do I apply?
Step 1 –Applying to buy
Step 2 –landlord’s response Notice
Step 3 –landlord’s Section 125Step 4 –Appealing to the Valuer
Step 5 –Resolving S125 questions
Step 6 –Getting a Survey Step 7 –Getting legal advice
Step 8 –What you want to do next Step 9 –Enquiring about mortgage Step 10 – Completing purchase
Delays or problems with saleExceptions to the Right to Buy
Other exceptions to Right to Buy
Rural restrictions Defective dwellings Right to Buy landlords
Other public bodies
Other booklets you may need
Useful addresses Chart to help you decide
Frequently asked RTB questions
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COUNCIL RIGHT TO BUY: Your Right to Buy your homeRight to Buy: Service chargesYour share of the landlord’s costs is known as a service charge. These vary considerably. Service charges for flats in tower blocks can be very high, especially when a block is quite old and needs a lot of refurbishment. There are two kinds of service charges: annual charges for day-to-day maintenance and ‘major works’ service charges (a lump sum, which can be £20,000 or even more) when a lot of repair or refurbishment work is needed. To get a rough idea of how high service charges are in your block, it is worth asking someone who has already bought a flat in it what charges they have had to pay. Or you could contact your local residents’ or leaseholders’ association. If you decide you want to buy, your landlord must tell you how much the property will cost and he must also give you an estimate of any service charge you will have to pay during the first 5 years of your lease. If the lease says you must pay some of the costs of improvement, the estimate must cover these too. Once he has given you an estimate, the landlord is not allowed to charge you more than that figure during the first 5 years of your lease, except to take account of inflation. There is no special limit on charges for repairs carried out after the first 5 years. You need to remember that you may have to pay ‘major works’ service charges whenever your block is repaired. There are several schemes to help you with this – ask your landlord about them. Some freeholders may also have to pay service charges for the repair and maintenance of shared communal areas on an estate – for example, pathways, play areas and gardens. Click here for the next page ... © Crown Copyright (Correct at time of writing January 2005. Please check with your financial services provider for any changes.)
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