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The Right to Buy Scheme allows tenants in England to purchase their council property partially discounted if they fit the criteria to be eligible for the scheme.
To be eligible for a Right to Buy in Birmingham in the first place, you need to have spent at least 3 years renting from the local council or housing association and are secure tenants of council property.
These years do not have to be consecutive, though this will vary depending on your situation. By speaking to a mortgage advice in Birmingham, they can help check if you are eligible for the scheme. Alternately, to keep yourself updated with the rules and regulations, you can also check out the government Own Your Home website.
In the right to buy sale, the property will be valued at full market price and then a government discount applied before purchase.
Having a Mortgage Advisor in Birmingham by your side can help you achieve your home-owning goals. Our advisors utilise their knowledge and experience within the mortgage industry to provide expert Right to Buy mortgage advice in Birmingham.
First, you need to know if you are eligible for the scheme and request an application form from the council. Next, you will get an offer notice which shows you the property value and your discount. You then have a set period to accept this offer.
As Birminghammoneyman, we can help with your mortgage, solicitors and survey as and when required. As part of your initial free mortgage appointment, your Mortgage Advisor in Birmingham will be able to help you work out your mortgage costs and match you up to the appropriate deals.
To determine the amount you can borrow for a Right to Buy mortgage in Birmingham, your income, expenditure, and overall affordability will be assessed. Additionally, your credit score will be checked, so it's crucial to review your credit score and work on improving it before applying for a Right to Buy mortgage.
The Right to Buy scheme, which was introduced in the 1980s, is still available for homebuyers. However, the scheme has undergone several changes over the years, and it may not be available in all areas. Therefore, it is crucial to ensure your eligibility in your local authority area before applying for a Right to Buy mortgage in Birmingham.
As a mortgage broker in Birmingham, we can guide you through the Right to Buy process, helping you meet the scheme's requirements and increase the likelihood of securing a lender's approval.
We tend to find that most lenders will take the discount as a deposit. However, others might require you to put in your own money too. It’s worth speaking to a Mortgage Advisor in Birmingham to find you a suitable mortgage that best suits your financial circumstances.
The local authority has set criteria that help them work out the discount, such as how long you’ve been a tenant within the public sector, what type of property you are looking to purchase and the properties value.
We do have some lenders on the panel that may allow you to borrow additional funds for home improvements such as new windows, doors and conservatories. Still, you will need to seek permission from your local authority.
Regarding eligibility, it is possible for any family member to purchase the council property through Right to Buy in Birmingham, provided they have been attached to the lease for at least a year. 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 live with you.
Being on benefits should not significantly affect your eligibility for Right to Buy in Birmingham. However, it is essential to remember that you will be responsible for monthly mortgage repayments, which could be challenging on a low income.
Therefore, it's recommended to seek advice from a mortgage advisor in Birmingham who is experienced in dealing with applications from people on benefits before applying for any mortgage.
First of all, you will need to determine whether or not you are eligible for taking out a Right to Buy in Birmingham, which can be achieved by asking for an application form from your local housing association or council.
Once they have gotten this back from you, they will be able to let you know how much the property is worth and the discount that you can have applied to it. There is no need to make a decision immediately, though be advised there is a time limit to accept their offer.
Our service goes beyond just your mortgage, providing you with advice on solicitors and any property surveys you need to be undertaken, when appropriate. During your free initial mortgage appointment, we will work with you to determine how much roughly you’ll be able to afford per month and match you up with the best mortgage deals for your circumstances.
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Rasna
Dinah and Stacey, both have been amazing dealing with my mortgage. I can’t recommend them enough, Dinah has been helpful and has gone above and beyond to get the support/advice I need. I’ve had to change my property and both Dinah and Stacey...
1 month ago
James
Jason and his colleagues at UK Moneyman have been amazing from the start. When we began the process of house buying and finding a mortgage we knew very little, but Jason explained much to us in a telephone consultation and outlined all our options....
5 months ago
Samantha
Very impressed, service was really good and efficient and anything g that needed explaining was done very clear. Would definitely recommend
5 months ago
Shelline
Leo Shakespeare and Stacey Jopling has work long side each other to made this entire journey extremely smooth and informative as a first time buyer. His service has been phenomenal. I had been rejected from many other brokers and banks and he...
8 months ago
Nafesa
I have been dealing with Wendy and Malcolm in regards to my house purchase and I could not recommend these enough. A true credit to the company. Very efficient with communication and solving any issues that needed to be addressed. Would highly...
10 months ago
Anonymous
Incredibly helpful, supported throughout whole process
10 months ago
Nazeef
Fantastic experience. Charlie helped me race through to secure the best mortgage offer, best plan for life and critical illness insurance. Very approachable and responsive even with any queries I had after everything was completed.
11 months ago
Tyler
Had great help from both Joe and Chris and Chloe who were all friendly and always happy to help
1 year ago
Rosie
Made everything very easy, we are first time buyers and they couldn't have been more helpful or informative. They didn't make us feel like we were stupid for not know anything about buying a house and talked us through the entire process. They even...
1 year ago
Sophie
Tom and Meghan were brilliant throughout the entire process! Both were friendly and knowledgeable and explained everything to us clearly and answered our countless questions and gave us clarification where we needed it. Both were easy to contact and...
1 year ago
Esme
Super helpful, made the whole process really easy and explained everything as we went along. Pretty good at keeping in contact, keeping us up to date and explaining the choices we had and then giving us the time to discuss and make those decisions.
1 year ago
Sheikh
I must say I am very pleased with the service I recieved from Moneyman, they set up regular calls and kept us updated throughout the checking progress. Fairly priced fees and very knowledgeable! I would highly recommend their services
1 year ago
Abdassami
Second time with this broker and it's been an amazing experience. Would definitely recommend. Anna and Matt were brilliant.
1 year ago
Nicholas
We couldn't be happier with the service provided. Matt has been professional, helpful and extremely supportive throughout our process. We will certainly be recommending you to friends. Communication was 5* and Matt was available at any point...
1 year ago
Asia
Great team - very good communication and very nice, helpful team that made it possible for me! Thank you for the great service.
1 year ago
Andrew
To say we have had a nightmare of a process of trying to buy a house would be an understatement, however Wayne and team were the bright light that helped us get through it. Can't thank them enough for their help.
2 years ago
Kazim
That nice 😊
2 years ago
Kristina
Brilliant service! Would highly recommend! Tom at the Birmingham branch was amazing. We're first time buyers so we were very unsure of the whole process and had lots of questions. Tom gave us all the support and guidance we needed and was there for...
2 years ago
Anonymous
Moneyman were really supportive during this process. After our first house fell through following downvaluation, they were really helpful in outlining the process moving forward and supporting us through the next house sale. Couldn't be happier with...
2 years ago
Eleanor
Thank you so much for your support Even when I Couldn't get hold of anyone else During the pandemic Your staff were there to encourage me to press on with the mortgage after Thanks for your help and the guidance Thanks for giving me a chance And...
2 years ago
In order to find out if you are eligible for the scheme, you need to get in touch with the council or housing association that owns your property. As well as this, you will be asked a series of questions to see if you match up against the criteria.
As soon as you know you qualify for the scheme, your local authority will offer you a price to buy the property. From this, you get a set time to make a decision so there is no need to make a choice straight away.
When you have got your discounted purchase price from the local authority, you then need to speak to your mortgage broker in Birmingham to check our eligibility and affordability for a mortgage.
As soon as our team have found you an appropriate deal, you will be able to apply to your local authority stating that you would like to purchase the property, then it’s time to process your full mortgage application.
By getting in touch with a reputable Mortgage Broker in Birmingham, like ourselves, you can see if you are eligible by requesting information about your income, expenditure and financial management to see if a mortgage is achievable and affordable.
It would be beneficial that you contact a mortgage advisor in Birmingham when you know the precise amount you are looking to buy the property for.
Here at Birminghammoneyman, we have a reputation for providing expert mortgage advice in Birmingham throughout your mortgage journey. Our advisors work hard to support customers achieve their mortgage goals, Right to Buy customers included.
Our Mortgage Advisors in Birmingham can search 1000s of mortgage deals for you and find you the most suitable one that fits your circumstances. When looking for a conveyancing solicitor, we can help you get some quotes. Our mortgage advisors will also help with what survey is suitable.
At the start of your mortgage journey and when you get in touch with us to complete your mortgage, an expert Mortgage Broker in Birmingham like ourselves will be there every step of the way, answering any mortgage queries.
We aim to provide open and honest Mortgage Advice in Birmingham and offer our services to give you peace of mind throughout the entire process. There will always be someone here, from early to late, ready to support you on your mortgage journey.
If you have any mortgage-related enquiries or looking for any help with other additional services, our Mortgage Advisors in Birmingham will do their best and help in any way they can 7 days a week. Our dedicated team will be by your side whenever you need them and work hard to clear any hurdles you may face.
Utilising over 20 of experience working in the mortgage industry, our mortgage advisor in Birmingham, have encountered various council house renters who are looking to purchase the property they are currently renting.
As we said, the government introduced the Right to Buy Scheme so council house renters can achieve their mortgage goal. Below we have listed the steps you will need to take in order to obtain a mortgage under the Right to Buy Scheme.
First, you need to reach and speak to either the council or housing association depending on who owns your property and see if you are suitable for a Right to Buy in Birmingham. Next, they will ask you a series of questions to make sure you match up against the scheme’s criteria.
Once accepted for the scheme, you will be offered a specific price to buy the property for by the local authority. You usually get a set time to decide, so you don’t need to give them an answer straight away.
Lastly, you need to contact us, and we can help you get started on your mortgage journey as soon as you have agreed to purchase the property by the local authority at the offered price.
Suppose you are looking to purchase the property you are currently renting via your local authority or housing association. In that case, you should look into whether or not you qualify for a Right to Buy in Birmingham and find out how much discount will be applied.
We recommend you get in touch with a Mortgage Advisor in Birmingham as soon as you have a precise amount you want to buy the property for.
When you contact a Mortgage Advisor in Birmingham, they can check if you are eligible by gathering information on your income, expenditure, and financial conduct to ensure your mortgage is achievable and affordable.
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Birminghammoneyman.com & Birminghammoneyman 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 www.register.fca.org.uk
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Birminghammoneyman.com & Birminghammoneyman 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 www.register.fca.org.uk
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