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Right to Buy Mortgage Advice in Sheffield

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

Right to buy gives customers who live in council properties in England the Right to Buy their council home at a discount.  It’s our job to help these customers by providing expert Right to Buy Mortgage Advice in Sheffield.

 

Usually, due to a large amount of discount offered, no deposit is required for the purchase.  There are also options with several mortgage companies to borrow additional funds to fund home improvements such as new windows, doors, conservatories etc if required.

 

What is a Right to Buy in Sheffield?

The Right to Buy Scheme is a government ran scheme that allows eligible tenants in England to purchase their property from the council for a partially discounted price. If you have spent at least 3 years (not always continuous) renting from a local housing association and are secure tenants of council property, you may be eligible for the government Right to Buy Scheme. When purchasing a property via Right to Buy, the property will be valued at the full market price with the government discount applied prior to purchase.

 

Right to Buy Mortgage Process

The process begins with you checking you are eligible and requesting an application form from the council. Once they have received this back you will receive an offer notice which sets out the property value and your discount.  You then have a set period of time to accept this offer.

 

We are able to help with your mortgage, solicitors and survey as and when required. As part of our initial free mortgage consultation, we can give you an idea of how much your mortgage will cost and if you qualify.

 

How does it work? Get a quote nowMeet your advisor

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

Common Right to Buy Mortgage Scenarios

Over our many years as Mortgage Advisors in Sheffield, we’ve encountered a great deal of council home renters looking to buy their home from their local council. They seek to do this utilising the Right to Buy Scheme, in which this scenario becomes 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.

 

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

How would you benefit from a Mortgage Broker in Sheffield

As a local expert Mortgage Broker in Sheffield, we always aim to provide you with the best service we can. We will guide you through the right to buy process and be there with through every step of the way. Here is a little bit about our service at Sheffieldmoneyman:

  1. It’s our job to make you feel relaxed and comfortable right from your initial enquiry through to owning your home.
  2. We pride ourselves on our customer service, please read our genuine at reviews Reviews.co.uk
  3. We can provide mortgage advice either face to face or over the telephone, you choose! We’ll work around your work and family commitments.
  4. Unlike your bank, we are able to search 1000’s of mortgage deals on your behalf to recommend the most suitable one for you.

 

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

What our customers say

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 Sheffield will be able to help answer all of your right to buy deposit questions.

Your free mortgage consultation with a Mortgage Advisor in Sheffield 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 Sheffield, we carry out a fact find to verify your needs before recommending you with a mortgage deal. After a Mortgage Advisor in Sheffield 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 Sheffield, 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 Sheffield.

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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Sheffieldmoneyman.com & Sheffieldmoneyman 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 Sheffieldmoneyman

Sheffieldmoneyman, Courtwood House, Silver Street Head, Sheffield, S1 2DD.

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