Right to Buy Mortgage Advice in Manchester

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What is a Right to Buy in Manchester?

The Right to Buy is a Government scheme that enables eligible tenants to purchase their council property, sometimes with a discount, and sometimes even without a deposit.


Eligible tenants have matched the requirements of spending at least 3 years (not always continuous) renting from a local authority and are secure tenants of a council or housing association owned property.


Being able to fund the purchase and having a good credit score, the scheme is available to all council tenants as long as they meet the full criteria for a Right to Buy mortgage in Manchester.


When you are looking to purchase your property via a Right to Buy in Manchester, the property will be valued at the full market price, with the government discount applied before the purchase is made.


Purchase Your Council Property Under the Right to Buy Scheme

Here at Manchestermoneyman, our team of dedicated Mortgage Advisors in Manchester aim to assist those who get in touch. By utilising their knowledge and experience working in the mortgage industry, we deliver a high standard of providing open and honest Mortgage Advice in Manchester.


This doesn’t happen to all tenants, but it has been known to happen that due to the sheer amount of deposit being offered to the home render, the property purchase will not require a deposit.


Different factors come into play to determine the homebuyers discount, this includes the length of time that you’ve been a tenant within the public sector, the kind of property you’re hoping to purchase under the Right to Buy Scheme and the actual value of the property in question.


Anyone familiar with the scheme in question and used it in the past will be aware that the discount applied may be lower. On top of this, there might be further options added on this to borrow additional funds for any home improvements.


Right to Buy Manchester, the Mortgage Process

First, you need to see if you are eligible for a Right to Buy in Manchester, you can check eligibility by requesting an application form, from your local housing authority.


Once they have received this back, they will inform you of the property purchase price and the discount that is to be applied.You don’t have to make a decision straight away, here is a set amount of time to accept their offer.


While we go above and beyond to help you throughout your mortgage process, advising on solicitors and property surveys when applicable. As part of your initial free mortgage appointment. We can help you work out your maxium mortgage costs and match you up to the appropriate deals.


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

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

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Common Right to Buy Mortgage Scenarios in Manchester

Throughout the years our Mortgage Advisors in Manchester, have worked with many customers who are currently renting from their local council housing association get onto the property ladder via the Right to Buy in Manchester.


Below we listed some essential steps you will need to take to see if you are eligible to see and take out a mortgage via the Right to Buy Scheme:

Checking Eligibility

First, you need to get in touch with either your housing association or council, whoever owns your property. By doing so, you can check eligibility to see if you qualify for the Right to Buy Scheme in Manchester. They will be able to see if you match up with their criteria.

Purchase Price

If you have checked and are eligible for the scheme, the local authority will put forward a property purchase price offer. You don’t have to make a decision right away, they will give you a set time frame in which you can accept their offer.

Start Your Application

By now you were happy with their offer and have agreed to purchase your home from the local authority. Next is the exciting part, contact our team and we can make a start on your mortgage application.

Mortgage Broker in Manchester

If you are considering purchasing the property you’re currently renting from the local authority, it’s worth checking first if you are eligible and also see if the property comes with a discount.


Once you have worked out how much you can purchase the property for, your next step will be to speak with one of our Mortgage Advisor in Manchester. Their job is to match you up against lending criteria to obtain the most suitable mortgage for your circumstances.


During your free mortgage appointment, our Mortgage Advisors in Manchester gather key information on the amount of money you make and look at bank statements, in order to choose whether or not you can afford to take out a mortgage on the property and find you the most suitable deal for your circumstances.

Are you looking to speak with a Right to Buy Mortgage Advisor in Manchester?

As an open and honest Mortgage Broker in Manchester with we always aim to provide high-quality Mortgage Advice in Manchester. Our team work their absolute hardest to ensure customer achieve mortgage goals or help point them in the right direction. Including those who are looking to get onto the property ladder via the Right to Buy Scheme in Manchester.


Your allocated Mortgage Advisor in Manchester will support you through your mortgage journey, always on hand to answer any mortgage enquiries you have.


One of the many benefits of using a Mortgage Broker in Manchester is we have access to 1000’s of mortgage products to find you the most suitable deal to match your personal and financial situation.


We also can help you sort out conveyancing solicitors, advising on which survey we feel would be more suitable to your circumstances. If you need any assistance with this, please get in touch with your Mortgage Advisor in Manchester and we will try our best to help you.


The Right to Buy process can sometimes have its hurdles, something we aim to help you head towards the end goals. Rest assured, we always aim to provide nothing but open & honest Mortgage Advice in Manchester, freeing you from any stress.


No matter how busy you feel your life is, there will be someone available at times that best suits you. Our Mortgage Advice in Manchester service is available from early on in the day, until late at night, every weekday and weekend.

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Common mortgage

The discount provided by the council through the use of the Right-to-Buy Scheme will generally be what the lenders use as your deposit. In some cases though, lenders will require you to put down a deposit alongside the discount you’ve been given. We normally see this type of thing crop up if you’ve been struggling with credit problems. Our hard-working and knowledgeable Mortgage Advisors in Manchester are readily available to answer any Right-to-Buy deposit questions you may have.

Your free initial mortgage consultation in Manchester will last roughly 30 mins. A dedicated advisor will then recommend a mortgage for you, with no obligation to accept and go forward and proceed with the mortgage in question, if you decide that it is not for you.

As trusted Mortgage Advice professionals in Manchester, we will carry out a Fact Find to establish your personal needs before we go ahead with recommending the most suitable mortgage for your situation. From there you will be credit checked, which is a requirement to obtain an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been undertaken, you can be issued a formal mortgage offer.

We recommend you obtain an Agreement in Principle prior to property viewings in Manchester, in order to avoid potential disappointment. At the very latest we would suggest that you obtain one before you make any offers, to put you in a better bargaining position. As a dedicated Mortgage Broker in Manchester, we are typically able to obtain an agreement in principle within 24 hours.

Generally speaking, an Agreement in Principle will last for between 30 and 90 days, depending on the lender that is used. If your Agreement in Principle expires before you can make use of it, it can be easily refreshed by speaking to your advisor.

If you’re looking to achieve something like debt consolidation or home improvements, you may be able to place a second mortgage on your home. If you’re looking to use it for yourself, a family member, a holiday home or a Buy to Let, a second mortgage on that property may also be an option.

If you have struggled with credit problems in the past, you may still be eligible for a mortgage, though a lender may possibly require you to put down a higher deposit than expected. This can be something like 15% of the property purchase price.

Submitting at least one year’s accounts moves you along the process, allowing for you to potentially obtain a mortgage in Manchester. Most lenders will utilise your salary plus dividend to calculate the maximum mortgage amount you are eligible to borrow, whereas some other lenders will go off your net profit.

In order for an employee to prove their income, it’s usually 3 payslips and the last 2 years’ accounts if you are self-employed. You will also need to provide some proof of ID, address and the last 3 months’ bank statements.

The free initial mortgage consultation that we offer generally lasts up to around 30 mins. We are then able to turn around an agreement in principle within 24 hours of that appointment. A formal mortgage offer takes, on average, somewhere around three weeks.

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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Manchestermoneyman.com & Manchestermoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain and you are not satisfied with our response to your complaint, you may be able to refer it
to the Financial Ombudsman Service, which can be contacted as follows

The Financial Ombudsman Service, Exchange Tower, London, E14 9SR

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