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Right to Buy Mortgage Advice in Durham

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7 days a week, 8am - 10pm

0191 303 9786 Speak to an Advisor - It's Free!
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Right to Buy Mortgage Advice in Durham

Transition from tenant to homeowner with a Right to Buy in Durham. Speak to mortgage expert today to discuss your options.

0191 303 9786

What is Right to Buy in Durham?

The Right to Buy Scheme in England offers eligible tenants the opportunity to purchase their council property at a partial discount.

To qualify for the scheme, certain criteria must be met, such as renting from the local council or housing association for a minimum of 3 years and being a secure tenant of council property.

The requirement of renting for 3 years does not necessarily have to be continuous, but it varies depending on individual circumstances. Therefore, seeking mortgage advice in Durham can be beneficial to determine your eligibility.

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Right to Buy Mortgage Advice in Durham

How is the Right to Buy discount worked out?

For the latest information on the rules and regulations associated with the Right to Buy Scheme, visit the government’s Own Your Home website.

When utilising the Right to Buy Scheme, the property is initially valued at its full market price, and the government discount is applied before the purchase is finalized.

By having one of our skilled mortgage advisors in Durham assist you, you can gain the necessary knowledge and expert mortgage mortgage advice in Durham. This support will help you take a significant step towards achieving your goal of owning a home.

Does Right to Buy in Durham still exist?

The Right to Buy scheme remains accessible to prospective homebuyers, but it has undergone several changes over the years. It is crucial to confirm your eligibility within your specific local authority area before initiating a Right to Buy mortgage application in Durham.

As a mortgage broker in Durham, we have the expertise to guide you through the entire Right to Buy process. We can offer assistance to ensure that you meet all the necessary requirements of the scheme and increase your chances of obtaining lender approval.

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FAQs for Right to Buy in Durham

How much can I borrow for a Right to Buy mortgage in Durham

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To determine your borrowing capacity for a Right to Buy mortgage in Durham, various factors will be taken into account, including your income, expenses, and overall affordability. It is important to review and improve your credit score before applying for a Right to Buy mortgage, as it will also be evaluated.

Do I need a deposit for a Right to Buy mortgage in Durham

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While the Right to Buy discount may eliminate the need for a deposit, not all local authorities in Durham allow this, and you may be required to provide a deposit.

Can my children buy my council home for me with a Right to Buy in Durham

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Regarding eligibility, any family member who has been associated with the lease for at least one year can participate in the Right to Buy scheme in Durham to purchase the council property. Additionally, if you are married or in a civil partnership and live with your partner, you can transfer the lease to them as long as they also reside with you.

Can you buy your council house with a Right to Buy in Durham, if you are on benefits?

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Receiving benefits should not significantly affect your eligibility for Right to Buy in Durham. However, it is important to consider the financial responsibility of monthly mortgage repayments, as it may present challenges on a low income.

Therefore, it is recommended to seek guidance from a mortgage advisor in Durham who has experience with applications from individuals receiving benefits before proceeding with any mortgage application.

What is the mortgage process for a Right to Buy Durham

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To initiate the process, you will need to determine your eligibility for Right to Buy in Durham. You can request an application form from your local housing association or council, who will assess your eligibility and provide information on the property’s value and the applicable discount.

While there is no immediate need to make a decision, it’s worth noting that there is a time limit to accept their offer. Our services go beyond arranging your mortgage, as we can also provide advice on solicitors and property surveys when necessary.

During your complimentary initial mortgage appointment, we will work together with you to assess your monthly affordability and identify the most suitable mortgage deals based on your specific circumstances.

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Our Simple Right to Buy Process

Confirm Your Right to Buy Eligibility

Step 1

Take the opportunity to discuss your current situation and goals with a knowledgeable mortgage advisor in Durham.

During this appointment, your advisor will gather information about your income and expenses to assess your affordability.

Submit Your Right to Buy Application

Step 2

If you meet the requirements for the Right to Buy scheme, your mortgage advisor in Durham will assist you with the application process.

Once you have submitted your Right to Buy application, the next step is to await an offer.

Submit Your Mortgage Application

Step 3

Upon receiving an offer to purchase your Right to Buy property, your mortgage advisor in Durham will help you find a suitable mortgage product for your new home.

Once a product that meets your satisfaction is found, we can proceed with submitting your mortgage application.

Throughout the process, a dedicated case manager will keep you informed at every step, all the way until you receive your formal mortgage offer and complete your Right to Buy purchase.

Protecting You and Your Mortgage

Step 4

Our service goes beyond securing you the best mortgage deal; we will also provide recommendations for relevant insurances to ensure the protection of you and your family.

Additionally, we will proactively contact you when your mortgage is due for renewal to ensure that you always have the best possible deal.

Reasons to Choose us

Free Mortgage Appointment

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We are committed to supporting you throughout your mortgage journey, from the initial call to the completion of the process. Your dedicated mortgage advisor in Durham will be available to address any inquiries you may have.

1000s of Deals

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Choosing a mortgage broker in Durham offers a significant advantage over approaching a bank or building society, as we have access to a vast selection of mortgage deals suitable for various customer circumstances.

Moreover, we can assist you in finding conveyancing solicitors and provide advice on the most suitable survey options for your needs.

Our Service

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As a trusted mortgage broker in Durham, our goal is to assist individuals who reach out to us, including those interested in utilizing the Right to Buy Scheme, by offering expert mortgage advice specific to Durham.

7 Days a Week

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We recognize that the Right to Buy process can encounter challenges along the way. Therefore, we are dedicated to overcoming any obstacles we encounter. Our team is available seven days a week, with extended hours, ensuring that we can provide mortgage advice in Durham at your convenience.

We encourage you to read our genuine customer reviews, as your satisfaction and the quality of service you receive are of utmost importance to us.

Malcolm and Amy Davidson - Mortgage Advice in Durham

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Common Right to Buy Mortgage Scenarios

Checking Eligibility

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To initiate the process, your first step should be contacting the council or housing association. They will ask you a series of questions to determine your eligibility for the Right to Buy Scheme and whether you meet the required criteria.

Purchase Price

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If you are deemed eligible for the scheme, your local authority will provide you with a purchase price for the property. You will be given a deadline within which you must provide your response after considering the offer.

Start Your Application

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Once you have obtained the discounted purchase price from the local authority, it is time to get in touch with your Mortgage Broker in Durham. They will assess your eligibility and affordability for a mortgage and help you find a suitable deal.

Once an appropriate mortgage deal has been identified, you can inform the local authority that you accept their offer and wish to proceed with purchasing the property. At this stage, your full mortgage application can be processed.

Mortgage Broker in Durham

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By now, you would have already spoken to your local authority or housing association, checked your eligibility for the Right to Buy Scheme, and obtained information about the applicable discount. Your next step is to contact a mortgage advisor in Durham.

Through this process, you will determine if your circumstances are suitable for obtaining a mortgage. A mortgage advisor in Durham will review your income and expenses to assess the feasibility and affordability of a mortgage for you.

Mortgage Guides & Durhammoneyman 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

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