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Right to Buy Mortgage Advice in Coventry

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We can Help you Buy Your Council House Under the Right to Buy Scheme

Right to Buy gives people living in a council-owned property in England the chance to purchase their home at a discounted price. The scheme is open to anyone who is a secure tenant and who meets the current criteria. Generally, no deposit is needed for the purchase due to a large amount of equity already existing in the property. To find out more and see if you qualify, you will need to visit your local council website or give them a call. Many mortgage companies also give the option to borrow additional funds for home improvements like new windows or redecorating.

 

Right to Buy Mortgage Advisor in Coventry

Are you interested in the Right to Buy scheme? To help get the Right to Buy mortgage process started, get in touch with Coventrymoneyman, your expert Mortgage Broker in Coventry. A Mortgage Advisor at Coventrymoneyman will recommend you which is the best Right to Buy route for you to take based on your personal and financial circumstances.

 

How does it work? Get a quote nowMeet your advisor

We search 1000s of mortgage deals across a large number of lenders, including:

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Over our many years a Right to Buy Mortgage Advisor in Coventry, we’ve had lots of experience of council home renters looking to buy their home from their local council. Using the Right to Buy Scheme, this can become possible. Below are the steps necessary to achieve this:

  • The first thing you’ll need to do is contact the council for an application form and for them to check that you are eligible for the scheme.
  • From there you’ll receive a purchase price. You then have a set period of time to accept their offer.
  • Finally, once a purchase price has been agreed. We can get the ball rolling with your mortgage application.
  • If you are thinking of buying your council home, it may be useful for you to work out your current monthly outgoings.
  • We’d recommend doing this as a tenant and then compare that with the costs of being a homeowner.  We’re happy to help you with this exercise.

The council Right to Buy Scheme has always been popular with anyone wishing to get on the property ladder whilst staying in their own home. Local Councils and Housing Associations are therefore offering tenants that qualify for the scheme big discounts.

 

Get in touch to book your free mortgage consultation in Coventry.

Why choose us for Right to Buy Mortgage Advice in Coventry?

We are experienced Mortgage Broker in Coventry and have access to 1000’s of mortgage deals right at our fingertips. This means we can find you an excellent Right to Buy mortgage deal that will match your individual situation perfectly.

 

We are available from 8am-10pm, 7 days a week, that means that you never have an excuse not to call your Right to Buy Mortgage Advisor in Coventry. There will always be an advisor available throughout the day and evening, ready to take your calls to answer all of your Right to Buy mortgage questions.

 

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Common mortgage
questions

Once your free mortgage consultation is complete, we can arrange an Agreement in Principle for you. We can usually get you one within 24-hours of your application.

We will then try and find you a perfect deal for your individual situation. If you want to proceed, we can get your mortgage application ready for submission. Once submitted, a formal offer usually takes more than three weeks.

To back up your mortgage application, you’ll have to provide some evidential documents. This will include things like ID, bank statements, your latest P60 and payslips.

Your dedicated Mortgage Broker in Coventry will go through every step with you to make sure that you get it right!

Yes, you can get a mortgage as a Self Employed applicant, however, you must be able to submit at least one years’ accounts. Not all, but most lenders will use your salary plus dividend to work out the maximum mortgage amount that you can borrow. Sometimes, lenders will also go off your net profit.

It may require you to try and obtain a specialist product, however, yes, it can be possible to get a mortgage despite having bad credit. As a Mortgage Broker in Coventry, in the past, we’ve seen lenders request 10%-15% deposits.

Yes, you can get a second mortgage in Coventry. Here are the most common reasons why people want a second mortgage:

– Debt consolidation
– Home improvements
– Buy to Let
– For a better deal
– Divorce/Separation

Even if your situation isn’t on this list, still feel free to get in touch and we will if we can help.

Usually, depending on the lender that you’ve used, your Agreement in Principle will last anywhere between 30-90 days. If your Agreement in Principle expires, you can easily renew it. If you get in touch with your Mortgage Broker in Coventry, they can arrange this.

Obtaining an Agreement in Principle (AIP) is a crucial part of the mortgage process. As a Mortgage Broker in Coventry, we advise that you get one prior to viewing properties.

Having an AIP in place nice and early could allow you to negotiate prices when making an offer. Of course, you will need to back up your affordability for a mortgage. You are only agreed in principle of providing evidential documents to support your application. Our team can help you with this.

The mortgage process can be made simple by using a Mortgage Broker in Coventry like us. Our mortgage process includes a simple fact find, a free mortgage consultation, then application submission. We can arrange an Agreement in Principle within 24-hours of all of this. We just need some evidential documents from you then we can get the ball rolling!

Your free initial mortgage consultation in Coventry will last around an hour. Firstly, your Mortgage Advisor in Coventry will get some information from you to find out about your mortgage needs and situation. Once we have some details from you, we can begin looking for mortgage deals.

Your dedicated Mortgage Advisor in Coventry will search through 1000’s mortgage deals, trying to find one that matches your personal and financial mortgage situation. If we find a deal, we’ll recommend you with the product. If you are happy to continue, we can get the ball rolling with your mortgage application.

When it comes to Right to Buy Mortgages, most lenders will use the government’s discount as your deposit. However, some lenders will want an extra deposit on top of the discount. This is usually the case when an applicant has had previous credit problems.

If you are thinking of purchasing your council house using the Right to Buy scheme, feel free to get in touch with our Right to Buy Mortgage Advisors in Coventry. We will see if we help you get the process started.

We make it so easy!
Our 4 step process

Step 1

Contact the council for an application form and check your eligibility for the scheme.

Step 2

You'll receive a purchase price and from there we can take some initial details and book you in with a Mortgage Advisor in Coventry.

Step 3

From there your dedicated advisor will work by your side, ensuring the process goes smoothly.

Step 4

We’ll try to find you the most appropriate mortgage deal. We’ll be there to support you, right through to completion.

A telephone call where we can take some initial details and find out about your plan of action.

Enjoy finding a property!

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

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Coventrymoneyman.com & Coventrymoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.

© 2021 Coventrymoneyman

Coventrymoneyman – Sherbourne House, Humber Avenue, Coventry, CV1 2AQ

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