Right to Buy Mortgage Advice | Right to Buy in Coventry

Right to Buy Mortgage Advice in Coventry

Get Your Free Consultation 7 Days a Week

Reviews io White Logo

Read our 30 Reviews

Reviews IO Stars

What is a Right to Buy in Coventry?

The Right to Buy Scheme is a government ran scheme that allows tenants who are eligible to purchase the council property that you are currently renting with a discounted purchase price, oftentimes removing the need for a deposit to be put down.

 

In order to meet the requirements for passing eligibility, you have to have been a local authority tenant for as least 3 years (not always continuous), living in properties owned by the local council or housing association.

 

So long as they can meet the affordability requirements for the property and have a good credit score, along with having the aforementioned 3 years of being a tenant, the Right to Buy Scheme may be available to you as a first time buyer looking to get onto the property ladder.

 

When you look at purchasing your property by taking out a Right to Buy in Coventry, your home will be valued at the full market price, with a discount from the government being applied prior to your purchase of the property.

 

Purchase Your Council Property Under the Right to Buy Scheme

At Coventrymoneyman, we have an incredible team of dedicated mortgage advisors in Coventry who work hard to help as many customers as they can. Making use of their in-depth industry knowledge and experience, our team pride themselves on providing fast & friendly Mortgage Advice in Coventry.

 

Because of the amount of discount that is on the property, the property purchase will typically not need the home buyer to put down a deposit. This is not always the case though, and some mortgage lenders may still ask for this.

 

A variety of factors come into play to determine how much discount the home buyer receives, including how long you have been a tenant within the public sector, the type of property you are looking to buy with a Right to Buy in Coventry, as well as how much that property is worth.

 

Anyone familiar with a Right to Buy in Coventry that has used it before, may not benefit from as high of a discount as they otherwise would have gotten. There may be further options you could add on, to allow you to borrow funds for any home improvements.

 

The Mortgage Process of a Right to Buy Coventry

First of all, you will need to determine whether or not you are eligible for taking out a Right to Buy in Coventry, which can be achieved by asking for an application form from your local housing association or council.

 

Once they have gotten this back from you, they will be able to let you know how much the property is worth and the discount that you can have applied to it. There is no need to make a decision immediately, though be advised there is a time limit to accept their offer.

 

Our service goes beyond just your mortgage, providing you with advice on solicitors and any property surveys you need to be undertaken, when appropriate. During your free initial mortgage appointment, we will work with you to determine how much roughly you’ll be able to afford per month and match you up with the best mortgage deals for your circumstances.

 

How does it work? Get a quote nowMeet your advisor

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

Mortgage Lenders 001
Mortgage Lenders 002
Mortgage Lenders 003
Mortgage Lenders 004
Mortgage Lenders 005
Mortgage Lenders 006

Common Right to Buy Mortgage Scenarios in Coventry

Across our years as expert Mortgage Advisors in Coventry, we have helped a wide variety of customers who are currently living in and renting from their local council or housing association, in getting onto the property ladder using a Right to Buy in Coventry.

 

Below we have put together a list of all the main steps necessary to find out if you are eligible to take out a mortgage using a Right to Buy in Coventry.

Checking Eligibility

The first step is to contact your local council or housing association, whichever one owns your property, in order to see if you can qualify for a Right to Buy in Coventry. They will review your situation and see if you match up with the criteria of the Right to Buy Scheme.

Purchase Price

If you have done the aforementioned step and are in-fact eligible for a Right to Buy in Coventry, your local authority will put forward a purchase price offer for your property, with the discount applied. You don’t have to immediately decide, though there will be a time frame of which to accept their offer.

Start Your Application

At this point if you are happy with their offer and are in agreement to purchase your home from the local authority, you’re now onto the most exciting part to date – starting your mortgage application with a trusted mortgage broker in Coventry.

Mortgage Broker in Coventry

For customers who are looking at potentially using a Right to Buy in Coventry as a way of purchasing their current rental property, it’s first important to check your eligibility and see what the discount to be applied is.

 

Once you have been able to determine how much the property can be purchased for, the next step is to get in touch with an expert mortgage advisor in Coventry, so that you can enjoy a less stressful process and find the best deal for your situation.

 

During your free initial mortgage appointment with us, as a trusted mortgage broker in Coventry, we will seek to learn more from you on your income,  looking at your bank statements, in order to determine whether or not you can afford to take out a mortgage, as well as to determine the best deal available to you on your Right to Buy in Coventry.

Are you looking to speak with a Right to Buy Mortgage Advisor in Coventry?

As providers of clear and simple mortgage advice in Coventry, we pride ourselves on our ability to excel beyond the realms of standard mortgage advice in Coventry, giving our customers the absolute best we can offer.

 

Our team work very hard to help as many customers as they possibly can, in reaching their mortgage goals. This includes people looking to take out a Right to Buy in Coventry.

 

Your mortgage advisor in Coventry will always be on hand to answer your questions, from the start of your process until the end of it and even beyond that. Customer satisfaction is our number one priority, we’re here to help you in any way we can.

 

One of the largest benefits of using a Mortgage Broker in Coventry is the fact that we as a company are able to access literally 1000’s of mortgage products in order to find the most suitable one for what you are looking to achieve.

 

If you need any help arranging conveyancing solicitors, we can also help in this area by recommending the most appropriate one. Inform your mortgage advisor in Coventry if this is something you would like help with.

 

Obtaining a Right to Buy in Coventry can often have hurdles in your path. We are focused on helping you as a customer, to overcome those hurdles as we progress further towards mortgage completion. When you enquire for mortgage advice in Coventry, you’ll benefit from a stress-free process.

Reviews Stars5.00 Rating30 Reviews

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.

Handy quick links

Coventrymoneyman.com & Coventrymoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain and you are not satisfied with our response to your complaint, you may be able to refer it
to the Financial Ombudsman Service, which can be contacted as follows

The Financial Ombudsman Service, Exchange Tower, London, E14 9SR
www.financial-ombudsman.org.uk

© 2022 Coventrymoneyman

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

Moneyman Logo







Moneyman Logo




Moneyman Logo

Ask Your Question





    Moneyman Logo

    Moneyman Logo







    Moneyman Logo

    Book your Free Consultation

    7 Days 8am - 10pm

    Moneyman Logo

    Moneyman Logo