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Right to Buy Mortgage Advice in Liverpool

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

If you wish to purchase the council home you are living in, and are named on the tenancy agreement, you may have the right to purchase the from the council at a discounted price. Generally, there won’t be a need for a deposit, due to purchase price being discounted. Here, we provide some Right to Buy Mortgage Advice in Liverpool.

 

Also available with some of our Mortgage Lenders now, are Capital raising options for home improvements, such as a new conservatory, windows or extension.

 

The Right to Buy process

The first thing you’ll need to do is contact the council for an application form. This will be followed by them checking that you are eligible for the scheme. Once this is completed, you’ll receive a purchase price which has to be accepted within a specified time period.

 

Finally, after a purchase price has been agreed, we can set the wheel in motion with your mortgage application.

 

How is the discount is worked out?

The percentage of this discount depends on varying factors, such as location and the length of time you’ve been a council tenant. One of the big advantages of Right to Buy is that due to the discount, there is often equity in the house already. How much equity, like the discount, also depends on varying factors. These include how much your discount is and the value of the property.

 

How does it work? Get a quote nowMeet your advisor

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

Right to Buy Mortgage Advice in Liverpool

Over our many years as Mortgage Advisors in Liverpool, 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 with a Mortgage Advisor in Liverpool.

Reasons to choose Liverpoolmoneyman as your Mortgage Broker in Liverpool:

  1. We’ll be here for you for help and support 7 days a week! Buying a property isn’t always easy, we’ll help you over any hurdles you face throughout the whole process.
  2. It’s our job to take the stress away. We aim to make you feel relaxed by being open and honest with you.
  3. Don’t just take our word for it. Take a look at our reviews at Reviews.co.uk – Your experience is really important to us.
  4. Unlike a bank, we’re able to search 1000’s of mortgage deals. This allows us to recommend the best one for you!

 

Contact your expert Right to Buy Mortgage Broker in Liverpool today!

What our customers say

Common mortgage
questions

The discount provided by the council will often be used by lenders as your deposit. Some lenders however, will require you to put down a deposit in addition to the discount. This is sometimes the case if you’ve been struggling with credit problems. Our Mortgage advisors in Newcastle are able to answer your right to buy deposit questions.

Your free mortgage consultation with Liverpoolmoneyman will last around an hour. After your details have been taken, a Mortgage Advisor in Liverpool will then search through thousands of mortgage deals to find a perfect matching deal for you. Once we recommend the deal, you can decide whether to proceed with us or not, it’s completely up to you!

As your mortgage broker in Liverpool, we will need to carry out a Fact Find to establish your personal needs before we recommend the most suitable mortgage for you. A credit check is always required for you to obtain an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been undertaken, a formal mortgage offer can be issued.

We always recommend that you obtain an Agreement in Principle before you start viewing properties in Liverpool, as they can potentially put you in front of other buyers who don’t have one. Lenders will like the fact that you have prepared before making an offer.

An Agreement in Principle typically remains valid for between 30 and 90 days, but this can change depending on your Lender. If your Agreement in Principle expires it can always be refreshed.

Yes, you can get a second mortgage. You can take out a second mortgage for your current home for things like debt consolidation and home improvements. It is also possible to take out a second mortgage for another property if you want. Usually, this situation comes about when people are interested in a holiday home, are buying for a friend/family member or want a Let to Buy or Buy to Let.

It is possible but it can be a bit tricky though. When you have had previous credit problems your minimum deposit that is required could rise, we have seen it at 15% before. Having a Specialist Mortgage Broker in Liverpool could really help you get back on track in situations like these.

After you have proven at least one year’s accounts to your lender, you should be able to get a mortgage. Most lenders will use your salary plus dividend to work out your maximum mortgage, however, some can go off your net profit.

If you’re an employee, you will usually have to supply three payslips in order to prove your income. If you are self employed its normally the latest 2 years’ accounts. You will also need to produce proof of ID, address and 3 months’ bank statements.

Our free initial mortgage consultation can last up to an hour. After we have all of your information we can get you an Agreement in Principle within 24 hours or your phone call. On average, a formal mortgage offer takes about three weeks.

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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 Liverpool.

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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Liverpoolmoneyman.com & Liverpoolmoneyman 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 Liverpoolmoneyman

Liverpoolmoneyman, Rodney Chambers, 40 Rodney Street, Liverpool, L1 9AA.

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