Helping tenants become homeowners using the government Right to Buy Scheme.
The Right to Buy Scheme is a government ran mortgage scheme that allows eligible tenants residing within England to purchase their property from the council or local authority for a discounted price.
If you lived within a public sector rental property for at least 3 years (not always continuous) rather than renting privately, and are secure tenants of a council or housing association property, you may be eligible for the Right to Buy Scheme.
In a Right to Buy sale, the property will be valued at the full market price, with the government applying a discount to it, lowering the overall cost.
How is the Right to Buy discount worked out?
The amount of discount received will be entirely dependant on a few different factors, such as where you are currently living in the country and how long you’ve been a tenant of that property.
One of the bigger and more favourable advantages of Right to Buy is that due to the discount, there will usually be existing equity that is present in the house already.
How much equity will once again depend on different factors, such as how much your discount is and the value of the property in question.
We that for the most part, those who utilise the Right to Buy Scheme are first time buyers in Nottingham.
We love working alongside first time buyers and are here to provide help, support and guidance throughout every step of the process, from your initial enquiry, all the way through to your completion.
How does it work? Get a quote nowMeet your advisor