The "Right to Buy"
is the right of a tenant of local authority housing to purchase
their house, and with a discount from the price.
After only 2 years as a council tenant, you are entitled to 32%
discount from the market value of your house. Each year after that
the discount increases by 1% to a maximum of 60%. There are upper
limits to the actual amount of discount allowed. This upper limit
varies area by area. When house prices rise faster than the discount
it does not pay to wait to buy the house. Ask Mortgage Market (Yorkshire)
Ltd. for advice on your particular circumstances and requirements.
The discounts for the purchase of flats are higher than for houses.
For flats discounts start at 44% after 2 years' tenancy, rising
by 2% per year to a maximum of 70%. As with houses, the discounts
are capped depending on area.
Most people buying a council house, as with any other house, need
to borrow the money, i.e. take out a mortgage. Everybody's requirements
are different. As a master mortgage broker, Mortgage Market (Yorkshire)
Ltd., is able to offer you free mortgage advice. There are hundreds
of different mortgage products available. We are able to arrange
for a mortgage consultant to talk to you about your circumstances
and requirements, explain the options, and help you choose the mortgage
product most suitable to your particular needs.
Now you can apply through this website or by calling us on (local
rates)
08458-500-444 (Calls
may be recorded for training and security purposes.)
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