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: Qualifying periodSubject to these maximum limits, the amount of discount for which you are eligible depends on the time you have spent as a public sector tenant, with: • your present landlord; If you must have spent 2 years as a public sector tenant in order to qualify for the Right to Buy (see pages 7 and 8 to see if that applies to you), the discount available to you after two years is 32% for houses and 44% for flats. If you are buying a house, you are eligible for 1% more discount for each extra year, up to a maximum limit of 60%. If you are buying a flat, you are eligible for 2% more discount for each extra full year, up to a maximum limit of 70%. But, whatever percentage you are eligible for, your discount cannot be greater than the maximum discount for the area in which you live, listed above. If you must have spent 5 years as a public sector tenant in order to qualify for the Right to Buy, the discount available to you after 5 years is 35% for houses and 50% for flats. If you are buying a house, you are eligible for 1% more discount for each extra year, up to a maximum limit of 60%. If you are buying a flat, you are eligible for 2% more discount for each extra full year, up to a maximum limit of 70%. But, whatever percentage you are eligible for, your discount cannot be greater than the maximum discount for the area in which you live. The qualifying period for discount can include time spent in different homes and with different landlords. This doesn’t have to be continuous, so long as it was a public sector tenancy. You may also be able to count a period when your husband or wife was a public sector tenant or lived in housing provided by the armed forces. If you lived with your parents after the age of 16 and you later became the tenant of the same house or flat, you may be able to count that time too. If you are buying jointly with someone who has a qualifying period longer than yours, you will get their higher rate of discount (subject to the maximum limit for your area). The table below gives some examples of the discount you could receive on a home worth £75,000. But you should note that you may not get the full amount of discount shown in the table because of the cash limits.
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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