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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.
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.
The discounted price can be influenced by the property’s market value, the length of time you’ve been a public sector tenant, the location you are in and the type of property you are buying.
The specific calculations can vary, so it’s always worth checking with someone to know the specifics of what you may be entitled to.
As part of your initial free initial 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.
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.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £495.
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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.
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Birminghammoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Birminghammoneyman 2025.
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Birminghammoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Birminghammoneyman 2025.
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