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If you are currently named on the lease on a property owned by the local authority (council or housing association), you may be entitled to the right to buy mortgage in Scunthorpe at a discounted price. Usually, due to the purchase price being discounted, no deposit will be required (though this is not a guaranteed benefit).
The right to buy scheme is a government-run scheme that allows eligible tenants in Scunthorpe and throughout England to buy the property they are currently renting from the board for a partially discounted price.
If you have spent at least 3 years (not always continuous) renting from a local authority and are secure tenants of a council or housing association-owned property, you may find yourself qualifying for the government right to buy scheme in Scunthorpe.
When purchasing a property via right to buy mortgage in Scunthorpe, the property will be valued at the full market price with the government discount applied before the purchase is made.
The percentage of the property price that will be used as a discount would entirely depend on varying factors, such as where your currently living, the property you are looking to buy, as well as the length of time you’ve been a tenant under the council or housing association.
One of the key advantages of the right to buy scheme is that because you are utilising an applied discount, there is often existing equity in the house already. The amount of equity, such as the discount, will also depend on various factors, like the value of your discount and the value of the property you want to buy.
We find that those who are looking to use the Right to Buy Scheme are first time buyers in Scunthorpe. As a mortgage broker in Scunthorpe, love helping customers get onto the property ladder. We will be here at every stage of the mortgage process, starting with your first enquiry, all the way to your completion.
Here at Scunthorpemoneyman, with some of the mortgage lenders we have on panel we can look at your options for capital raising options for home improvements, such as a new conservatory, windows or extension.
Having been an open & honest mortgage broker in Scunthorpe for over 20 years, we have worked with lots of customers looking to utilise the right to buy scheme to get onto the property ladder. There are a few different cases here, this may be possible, but first, you need to confirm your eligibility. Here is how this can be done:
Something we recommend before doing this is sitting down to work out your monthly outs. This can be very useful in the process of buying your home from the local authority, whether a housing association or the board.
We think it’s best if you find out what you have now as a tenant, and then compare it to what it would be like if you were a homeowner. We are happy to provide some help and advice when it comes to this, so you are aware further down the line. Book your free mortgage appointment to speak with an expert mortgage advisor in Scunthorpe today.
As a long-term and respected mortgage broker in Scunthorpe, we always aim to help all new / existing customers, including those who are looking at their options for using the right to buy scheme.
From the first time you contact us, until the end of your mortgage process, your dedicated mortgage advisor in Scunthorpe will be with you every step of the way, ready to answer all your mortgage questions and concerns.
Unlike a bank or building society, our team of mortgage experts in Scunthorpe can search 1000s of right to buy mortgage deals on your behalf. Working hard to try and find the best deal that is available, based on your personal and financial circumstances.
We can also assist when it comes to dealing with conveyancing solicitors, helping you to decide on which survey we think would be the best option to go forward with. If you need help with other extra services, please ask your mortgage advisor, and we’ll see if we can do anything to help you.
Our loyal and dedicated team will be here every day of the week to provide help and advice whenever you need us! The Right to Buy process isn’t always easy, and we will help you overcome any hurdles you face. We aim to be clear and transparent and take away your stress, making you feel relaxed and excited for the eventual outcome of being a home owner.
Mortgage advice in Scunthorpe is available in the morning, afternoon, evening or weekend. Whichever time slot fits in with your work schedule, family schedule or anything else, we will have someone ready to speak to you as soon as they possibly can. No matter what, it’s the same service either way!
4.82 Rating17 Reviews
Donna
FANTASTIC AND OUTSTANDING SERVICE!! Unfortunately the purchase of our new home was rather difficult, we had devaluations and chains falling through, so to say the least it was testing!! we had a very stressful, hard 7 months to get to the...
Stuart
Dealt with my mortgage arrangement and application in super quick time. Very efficient and would recommend to everyone.
Rebecca
Leo and Lyndsey were fantastic! No issues at all, and all very quick and efficient. Thankyou so much
Anonymous
She was so helpful. I felt hopeless after just having my mortgage declined by a high Street bank and she's given me some hope again.
Akvile
Amazing and really friendly service. Really glad I choosed this company for my remortgage. I would definitely recommend this company to everyone
Jonathan
I would highly recommend Scunthorpemoneyman to anybody needing the service. They have been very quick to respond to any questions and I have had to do next to nothing through the hole process they have handled everything brilliantly.
Samanatha
Fantastic advice and guidance throughout the full process. Malcolm and his team were extremely knowledgeable, efficient and responsive during our mortgage application. When we came across obstacles, these were dealt with quickly and advice given on...
Amelia
Absolutely fantastic service from all at Scunthorpe money man. The staff are so friendly and helpful, nothing is too much trouble, any questions answered. Kept up to date all the way through, I would recommend to anyone. Many thanks for all...
Samantha
Outstanding service from start to finish with every member of the team helpful and friendly. I could rely on them for advice and updates at all stages.
Thomas
Wow..... what a fantastic team they are Matt,Mel and Wendy did a fantastic job for me been messed around by other brokers in the past but from the very first phone conversation I knew they had my best interests. Fantastic communication always kept...
Anonymous
Thanks so much to the team. You made everything so easy and clear. I would highly recommend your services.
Richard
Great communication from start to finish and even after finding a mortgage deal for us Jason kept looking and found a even better one at .5% less
Jayne
A fabulous company to deal with who put my mind at ease and everything that they required in the manner of documentation was never a problem, Matt, Leanne and Wendy kept in constant contact with me and gave me a 5 star service, in actual fact it was...
Kenneth
I can’t thank Matt and Mizna enough for all there help and hard work! Nearly time to sign for our house and it wouldn’t have been possible without the help of Scunthorpe Money Man! Thank you all!!
Sophie
Absolutely fantastic staff! I stumbled across Scunthorpe Money Man on google, with just one call the ball was rolling...fast, efficient, friendly and supportive. People say mortgage applications are stressful and boy they are not wrong but with the...
Chris
Very happy with the service provided, Excellent service from start to finish. I would definitely recommend Scunthorpe Moneyman and would use them again in the future. 5* Experience.
The discount provided to you by the council will typically be used by lenders as your deposit towards the property. In some cases though, lenders will require you to put down a deposit as well as the discount, especially if you’ve got a poor recent credit history. Our experienced team of mortgage advisors in Scunthorpe are able to answer your right to buy deposit queries.
Your free mortgage consultation in Scunthorpe with a dedicated advisor will last for approximately 30 mins. From that point, we will then recommend a mortgage for you, with no obligation to accept and proceed if you change your mind at any point.
We will carry out a Fact Find to establish your individual circumstances and needs prior to recommending the most suitable mortgage. A credit check is something that will be required for an Agreement in Principle. Once you have given all the relevant documentation and a valuation of the property has been undertaken, a formal mortgage offer can then be issued to you.
To avoid facing disappointment at a later stage, we recommend you obtain an Agreement in Principle before you begin any property viewings in Scunthorpe. At the very latest you should obtain one before you start making offers, as that will assist your bargaining position.
An Agreement in Principle will generally last for anywhere between 30 and 90 days depending on the mortgage lender. If your Agreement in Principle expires, your mortgage advisor in Scunthorpe can refresh this for you.
It may be possible to get a second mortgage on your home if you’re looking to work towards debt consolidation or any home improvements, as well as if you’re wanting to use it for yourself, a family member, a holiday home or a potential Buy to Let.
If you have a recent history of credit problems, it’s not impossible for you to get a mortgage, though you may possibly be required to put down a slightly higher deposit than typically expected, perhaps 15% of the property purchase price.
The documents you will need if you are an employee are three payslips to prove income and for self employed, you will need the latest 2 years’. As well as this, you will also need proof of ID, address and 3 months’ bank statements.
A free consultation usually lasts up to 30 mins or so. An agreement in principle can be ready for you within 24 hours. It takes on average three weeks for a formal mortgage offer.
You will be eligible for a mortgage but only once you have submitted at least one year’s accounts. Many Lenders calculate the maximum mortgage by taking your salary plus dividend, however, others are known to go off your net profit.
Contact the council for an application form and check your eligibility for the scheme.
You'll receive a purchase price and from there we can take some initial details and book you in with a Mortgage Advisor in Scunthorpe.
From there your dedicated advisor will work by your side, ensuring the process goes smoothly.
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.
