Burger Menu

Right to Buy Mortgage Advice in Manchester

Get Your Free Mortgage Consultation - 7 Days a Week

0161 7133215

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 government 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 will depend on a variety of 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 that customers often like, is that due to the discount, there will usually be existing equity in the house already. How much equity again depends on various factors, including 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

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

Mortgage Lenders 001
Mortgage Lenders 002
Mortgage Lenders 003
Mortgage Lenders 004
Mortgage Lenders 005
Mortgage Lenders 006

The Right to Buy Process

  • Firstly, you’ll need to get in touch with your local council and ask for an application form. Doing this can provide clarity on whether or not you are eligible for the scheme!
  • 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 how much money you have going out of your account every month, as that will 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. Our team of mortgage advisors in Manchester 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, comparing with your personal situation to ensure we find the best and most appropriate deal for what you’re looking to do.

 

Throughout the whole process, our team of mortgage advisors will offer help and guidance, answering any questions you may have and making the process go quicker and smoother. 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 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 one hour. 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 an hour. 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.

Handy quick links

Manchestermoneyman.com & Manchestermoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.

© 2021 Manchestermoneyman

Manchestermoneyman, 3 Piccadilly Place, Manchester, M1 3BN.

Moneyman Logo







Moneyman Logo




Moneyman Logo

Ask Your Question





    Moneyman Logo

    Moneyman Logo







    Moneyman Logo

    Book your Free Consultation

    7 Days 8am - 10pm

    Moneyman Logo

    Moneyman Logo