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Janet Hall CeMAP for right to buy mortgages
Janet Hall, 115 The Street, Crowmarsh Gifford, Wallingford, Oxon OX10 8EF. Tel: 0330 999 1955
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Right to Buy / Right to Acquire Mortgage Advice

....Right to Buy Discounts are back at the blue and red end of the scale from 2nd April 2012

In England, the Right to Buy bonanza of the 1980s is back !!!!!!

The previous discount limits (between 16 - 38,000 depending on area) were withdrawn in most cases, effective from 2nd April 2012.

You can now expect to qualify for a 35% discount on your house after 5 years, plus an extra percent for each additional year, with a maximum of 60% - limited to 75,000 or, as of 25th March 2013, 100,000 in London (flats qualify for even more generous percentage discounts, but the same maximum cash amount applies). There are some other limiting rules, but they do not affect the majority of cases.

With the new increased discount limit, the opportunity to buy their home at a comparatively low price now exists again for many thousands of public sector tenants under the Right to Buy Scheme.

While most lenders will consider providing a mortgage (subject to their normal lending criteria) for a Right to Buy property many will not count the public sector owners’ discount towards the necessary deposit - it is therefore normally vital to utilise one of the lenders who accept the discount as or towards the deposit (and there are a large number of other criteria that also need to be matched).

Such applications inevitably require considerable supporting documentation and liason between all parties including the Council (or other owner) and lender and the support of an experienced mortgage adviser can be even more beneficial than usual.

I am always pleased to help you through the initial applications to the Council (or other owner - such as a housing association), evaluating your budgets and general planning as well as the actual application to the selected lender. If you are considering applying for the Right to Buy please feel free to call us and chat through your overall circumstances, which will enable me to evaluate whether you are likely to be able obtain a Right to Buy mortgage - there is no cost (other than a standard rate phonecall) or commitment involved.

** See The Mortgage Lady’s dedicated RIGHT TO BUY WEBSITE **

** Try our new RIGHT TO BUY mortgage calculators **

THERE MAY BE A FEE FOR MORTGAGE ADVICE - TYPICALLY 250 FOR REMORTGAGE OR 350 FOR PURCHASE - BUT UP TO 500 FOR COMPLEX CASES.
RIGHT TO BUY MORTGAGES - THE OVERALL RATE FOR COMPARISON IS 4.5%. THE ACTUAL RATE WILL DEPEND ON YOUR CIRCUMSTANCES.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENT ON YOUR MORTGAGE.
News small

Right to buy sales jump in Q1

Mortgage Solutions 22nd August ‘13

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Janet Hall is an appointed representative of TenetLime Ltd which is authorised and regulated by the Financial Services Authority.
TenetLime Ltd is entered on the FSA register (www.fsa.gov.uk/pages/register) under reference 311266.
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Mortgage and insurance advice for Right to Buy throughout England - see our location specific sites for London, Milton Keynes, Oxford, Reading & Swindon (more coming soon)