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Right to Buy Mortgage Advice in Manchester

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We are able to assist you in buying your Council House under the Right to Buy Scheme

Right to Buy is a government scheme that allows eligible tenants in England to purchase their property from the council for a discounted price.

 

If you have spent at least 3 years (not always continuous) renting from the public sector as opposed to privately and are secure tenants of a council property, you may be eligible for the Right to Buy Scheme. In a Right to Buy sale, the property will be valued at the full market price, with a government discount applied to it.

How The Discount Is Worked Out

The discount percentage depends on varying factors, such as where you are in the country and how long you’ve been a council tenant. A big advantage of Right to Buy is that due to the discount, there will usually be equity in the house already. How much equity again depends on varying factors, such as how much your discount is and the value of the property.

 

We often find that those who utilise the Right to Buy Scheme are First Time Buyers in Manchester. We love working alongside First Time Buyers and are here throughout every step of the process. This starts with your initial enquiry, all the way through to your completion.

How does it work? Get a quote nowMeet your Mortgage Advisor in Manchester

We search 1000s of mortgage deals across a large number of lenders, including:

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The Right to Buy Process

  • Firstly, you’ll need to contact the council and ask for an application form – This confirms your eligibility!
  • Once you’ve been accepted, you’ll receive a purchase price, of which you’ll have a set amount of time to accept.
  • Lastly, once a purchase price has been agreed on, a Mortgage Advisor in Manchester can get the ball rolling with your mortgage application!

 

Working out your monthly outgoings may be greatly beneficial to you if you are thinking of buying your council home.

 

Our recommendation is to work out what you have now as a tenant, then compare that to what it would be like if you were a homeowner. We are more than happy to help you out with this part.

 

Get in touch to book your free mortgage consultation in Manchester with a Mortgage Advisor in Manchester.

Why choose us for Right to Buy Mortgage Advice in Manchester?

As a knowledgeable and experienced Mortgage Broker in Manchester, we are able to look through 1000’s of Right to Buy mortgage deals for you, tailored to your circumstances.

 

Throughout the whole process, we’ll offer a multitude of help and guidance, answering any questions you may have. We even aid with other services when necessary, such as conveyancing.

 

Our brilliant team of Mortgage Advisors in Manchester are incredibly proud of the service levels we provide day in and day out – This is reflected in our genuine customer reviews.

What our customers say

Common mortgage
questions

The discount provided by the council will often be used by lenders as your deposit. Some lenders however, will require you to put down a deposit in addition to the discount. This is sometimes the case if you’ve been struggling with credit problems. Our Mortgage Advisors in Manchester are able to answer your Right to Buy deposit questions.

Your free mortgage consultation in Manchester will last round about one hour. We will then recommend a mortgage for you with no obligation for you to proceed and you can decide whether or not you wish to proceed with the mortgage.

As your Mortgage Broker in Manchester, we carry out a Fact Find to establish your personal needs before we recommend the most suitable mortgage for you. A credit check is then required for an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been undertaken, a formal mortgage offer can be issued.

To avoid possible disappointment, we recommend you obtain an Agreement in Principle before you begin viewing properties in Manchester. At the very latest you should obtain one prior to making an offer to assist your bargaining position. As your Mortgage Broker in Manchester, we can usually turn round an agreement in principle within 24 hours of your mortgage application.

An Agreement in Principle typically lasts for between 30 and 90 days depending on the lender used. If your Agreement in Principle expires it can always be refreshed.

It may be possible to get a second mortgage on your home in Manchester for things like debt consolidation or home improvements. It may also be possible to take out a mortgage on a second property if you’re wanting to use it for yourself, a family member, a holiday home or a Buy to Let.

If you have had credit problems you can still get a mortgage but you may possibly be required to put down a higher deposit than usual, perhaps 15% of the property purchase price.

Once you have submitted at least one year’s accounts, you are able to get a mortgage in Manchester. Most lenders use your salary plus dividend to calculate the maximum mortgage, whereas others are known to go off your net profit.

It’s usually three payslips for an employee to prove income and the latest 2 years’ accounts for Self Employed. You will also need to produce proof of ID, address and 3 months’ bank statements.

Our free consultation typically lasts up to an hour or so. We can turn round an agreement in principle within 24 hours. A formal mortgage offer takes about three weeks on average.

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We make it so easy!
Our 4 step process

Step 1

Contact the council for an application form and check your eligibility for the scheme.

Step 2

You'll receive a purchase price and from there we can take some initial details and book you in with a Mortgage Advisor in Manchester.

Step 3

From there your dedicated Mortgage Advisor will work by your side, ensuring the process goes smoothly.

Step 4

We’ll try to find you the most appropriate mortgage deal. We’ll be there to support you, right through to completion.

A telephone call where we can take some initial details and find out about your plan of action.

Enjoy finding a property!

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

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UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
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