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Right To Buy Scheme
The right to buy scheme was introduced in 1980, allowing council tenants in the UK to purchase their homes at a discounted rate. Since then, over 2 million people have taken advantage of the scheme. There are a number of benefits to owning your own home, including the ability to make improvements and the security of knowing that you won’t be evicted. The Right To Buy scheme has helped many people to achieve their dream of homeownership.
Providing Quality Right To Buy Advice
Which Is Tailored To You
We have over 40 years of combined experience within the mortgage industry. Our team is comprised expert advisors who are readily available to help you through the steps of your right to buy journey.
The discount applied used under the Right to Buy Scheme can vary depending on a few different factors:
- How long you have stayed living in the property
- The type of property you are looking to buy
- The value of the property
To fit the criteria of the Government’s Right to Buy Scheme, you need to have at least been renting from your local authority for at least 3 years, this doesn’t always have to be consecutive.
When purchasing a property under the Right to Buy Scheme, the property gets valued at full market price with the government discount applied before making any purchases.
Purchase Your Council House Under the Right to Buy Scheme
We at Woods & Wallace strive to provide our customers with a high level of tailored advice. We have 40+ years experience in the industry, and work efficiently so that you can receive quality service quickly!
One of the significant advantages of the Right to Buy Scheme is that there is often existing equity in the house because you are utilising an applied discount.
As previously stated, how much equity will also depend on various factors. These include how much your discount is and how much the property you are looking to buy is worth. Remortgaging for home improvements, such as an extension, new windows or conservatory, may also be doable with some of the mortgage lenders we have on our panel.
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Giving you the peace-of-mind you’re receiving the most up-to-date industry advice, from a qualified and experienced Woods & Wallace Adviser.
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Our simple 5 step process...
Find out if you qualify
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You'll be notified of the property purchase price & the discount
Getting your mortgage in place
Arrange Property Insurance
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All Our Advice Is FCA Approved!
Giving you the peace-of-mind you’re receiving the most up-to-date industry advice, from a qualified and experienced Woods & Wallace Adviser.
