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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.

 

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:

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. Anytime you want to call, there will be advisor waiting to take your calls to answer all of your Right to Buy mortgage questions.

 

Mortgage Advice in Coventry is available in the morning, afternoon, evening or weekend – whichever one fits in with your work and family. It’s the same service either way!

 

Please read our genuine customer reviews, the service you receive and your happiness is really important to us.

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Common mortgage
questions

Most lenders will use the discount as a deposit for your mortgage. However, some lenders will require you to put down a deposit in addition to the discount. This is sometimes the case if you have credit problems. Our Mortgage advisors in Coventry will be able to help answer all of your right to buy deposit questions.

Your free mortgage consultation with a Mortgage Advisor in Coventry will last approximately an hour. Once they have evaluated your situation, they will recommend a mortgage for you with no obligation for you to proceed. Based on the deal, you can decide whether or not you want to continue the process with us or not.

As a trusted Mortgage Broker in Coventry, we carry out a fact find to verify your needs before recommending you with a mortgage deal. After a Mortgage Advisor in Coventry has evaluated your situation, they will perform a credit check on you, this is required for an agreement in principle. Then after you have provided all of the relevant documentation and a valuation of the property has been carried out, a formal mortgage offer can be issued.

We always advise that you obtain an Agreement in Principle before you start viewing properties in Coventry, to avoid disappointment. If you want to get yourselves a head start, you should get one prior to making an offer.

Typically, an agreement in principle lasts for between 30 and 90 days, however, this can change depending on your lender. If your agreement in principle expires, you can renew it quite easily.

Yes, you can get a second mortgage. Whether this is for debt consolidation or home improvements, this is possible. It is also possible to take out a second mortgage on a second property but only if it is own use, the use of a family member, a holiday home or a Buy to Let.

It will be harder but yes you can. You will have to show that you can afford a mortgage by putting down a higher deposit, perhaps 10% or 15% of the purchase price.

Yes, however, you must submit at least one years’ accounts. Most lenders use your salary + dividend to calculate the maximum mortgage, whereas other lenders could base it of your net profit.

If you are an employee, you will need to provide three payslips to prove your income. If you are self employed, you will have to prove for the latest 2 years’ accounts. Along with this, you must produce proof of ID, address and 3 months’ bank statements.

Our free mortgage consultation will take about an hour. Once this is one, we can arrange an Agreement in Principle for you within 24 hours. A formal offer takes up to three weeks on average.

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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.

© 2020 Coventrymoneyman

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