Right To Buy Mortgage

Buying your council home?

Regency Mortgage Corporation Ltd who have over 10 years experience in the UK Right to Buy market can provide you with expert advice on what you need to do to buy your council house. Their service includes help and advice on:

Applying to your Council for your Right to Buy
Advising you on a suitable Right to Buy mortgage
Finding a solicitor for your legal work
Completing your Right to Buy mortgage with your lender

Existing bad credit problems need not be a problem. Regency are able to provide right to buy mortgage solutions if:

You are Self Employed
Your income is difficult to prove
You have previous CCJs (County Court Judgements)
You have been made bankrupt
You have a bad credit rating

FOR A FREE NO OBLIGATION ILLUSTRATION CLICK HERE

Who has the right to buy?

Under the Government Right to Buy Scheme, you have the option of buying your Council home at a price lower than the full market value. This is because the length of time you have spent as a tenant entitles you to a discount. The level of discount will be determined by a range of factors including length of time you have been a tenant, and the council who currently owns your home.

The scheme is for tenants of local authorities and those assured tenants of Registered Social Landlords who previously held secure tenancies with local authorities. If your secure tenancy was in existence before 18 January 2005, or you were a public sector tenant before 18 January 2005 (and you have been a public sector tenant continuously since that time), you do not have the Right to Buy until you have spent at least 2 years as a public sector tenant. A public sector tenant is a tenant whose landlord is either a 'Right to Buy landlord'; or one of the public bodies listed under 'Other public bodies'. For anyone else, you do not have the Right to Buy until you have spent at least 5 years as a public sector tenant.

You will only be able to purchase under the scheme if your house or flat is your only home and is self-contained. You cannot buy your home if a court makes a possession order which says that you must leave your home. Neither can you buy your home if you are an undischarged bankrupt, have a bankruptcy petition pending against you, or have made an arrangement with creditors (people you owe money to) and you still owe them money.

You may be able to exercise the Right to Buy jointly with members of your family who have lived with you for the past 12 months, or with someone who is a joint tenant with you. Any land let together with your home (for example, gardens and garages) will usually be treated as part of your home.

FOR FREE RIGHT TO BUY MORTGAGE ADVICE CLICK HERE

The overall cost for comparison is 9.5% APR.

The actual rate available will depend upon your circumstances. Ask for a personalised illustration. No upfront fees - An application fee of £2950 and a completion fee of 4% of the mortgage advance/loan is payable only on completion. You may have the option of adding this fee to the mortgage advance. Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

Regency Mortgage Corporation is a trading name of Paradigm Two Limited, Authorised and regulated by the Financial Services Authority .