Right to Buy Mortgages
The Right to Buy scheme allows council tenants to buy their homes at a discounted price, provided that they meet minimal qualification criteria.
A council Right to Buy purchase is an excellent way to get on the property ladder without having the hassle of saving for a deposit.
To qualify for the Right to Buy you need to have been a public sector tenant for a minimum of two years.
What Kind of Discount Do You Qualify For?
The maximum level of discount you are entitled to depends on the local area you live in and ranges from £16,000 to £38,000 off the market value of the property you live in.
The discount to which you are personally entitled is roughly proportional to the number of years you have been paying rent in public sector housing. This means that the longer you have been renting from the council, the higher your discount entitlement will be.