Buy Your House Under The Right to Buy Scheme in Scunthorpe
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).
What is a Right to Buy in Scunthorpe?
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.
How is the discount worked out?
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.
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