COUNCIL RIGHT TO BUY MORTGAGE

If you have lived in your council house for a while then you may be able to buy the property from the council at a discount. You will need to contact them to get the exact details of:

• The open market value of your property (OMV)

• The price you will have to pay to buy the property (RTB Price)

Not all lenders will lend to you, but there are a number of lenders that will lend on their normal terms on right to buy properties. As well as this there are a number of schemes especially designed for right to buy properties where there may be other issues.

Amount You Can Borrow

Most lenders that will lend on right to buy properties will lend up to 95% or 100% of the RTB Price. Also when calculating your loan to value they will use the OMV.

This means that for example if you were buying your council house:

• Valued at OMV £200.000

• But you can buy it at RTB Price £150,000

Then they would count your purchase as being on a 75% loan to value.

There are also some lenders that will allow you to borrow more then the RTB Price.

FREE PROFESSIONAL HELP

There is no obligation and you can get our help to arrange your mortgage for FREE. Whether you:

• Want to be pre-approved for a loan

• Need to arrange a loan quickly

• Are looking for the best schemes on the market

• Need to know how to get a large enough loan

• Have had problems getting a mortgage elsewhere

GET PROVISER TO WORK FOR YOU or call us on 020 8746 3100