Right to Buy Mortgages
Right to Buy Mortgages
Right to Buy Mortgages Advice
If you're looking to purchase your council home through the Government's Right to Buy scheme, we are here to help. This scheme allows eligible tenants to buy at a discounted price, making homeownership more achievable. Bradgate Financial Solutions will guide you from enquiry to completion, explaining costs, timescales, and paperwork in plain English.
We assess your income, deposit and discount, then compare lenders across the market to find a deal that suits your circumstances. Right to Buy cases are not accepted by every lender, so knowing which will consider yours before you apply saves both time and a wasted credit search.
We keep the process moving and support you at every step. Speak to us today for clear next steps.
How Does the Right to Buy Scheme Work?
The Right to Buy scheme enables council tenants to purchase their rented homes, often with significant discounts.
Our expert team will assess your eligibility and find the most suitable mortgage product for your needs.
- Eligibility You must have been a council tenant for at least three years, though these do not need to be consecutive.
- Discounts Depending on your tenancy length, you could qualify for discounts of up to 70% off the market value of the property (subject to caps).
- Financing A Right to Buy mortgage helps cover the remaining cost of the property after the discount has been applied.
Right to Buy, Right to Acquire and Preserved Right to Buy
Three separate schemes exist and they are frequently confused. Which one applies to you determines the discount, and sometimes whether you can buy at all.
Right to Buy
applies to secure tenants of a local council. This is the scheme with the largest discounts.
Right to Acquire
applies to most housing association tenants. It works similarly, but the discount is a fixed cash sum rather than a percentage of the property's value, and it is considerably smaller. Not every housing association property qualifies — homes built or acquired with certain public funding do, others do not.
Preserved Right to Buy
applies where you were a council tenant and your home was transferred to a housing association while you were living in it. You keep the Right to Buy entitlement, including the larger discount, despite no longer having a council landlord.
Your landlord confirms which applies and processes the application. Ask them in writing before making any financial plans, because the difference between a percentage discount and a fixed cash discount is usually tens of thousands of pounds.
Eligibility also depends on the property. Homes designed for older or disabled people, properties due for demolition, and some tied accommodation are excluded from all three schemes.
How Lenders Treat the Discount
The discount does the work of a deposit, and understanding exactly how lenders apply it explains why some applications succeed with no savings at all.
Lenders assess the mortgage against the discounted purchase price, not the full market value. Buy a property valued at £150,000 for £90,000 after discount, and a lender advancing the full £90,000 is lending at 60% against the property's actual value — a comfortable position, which is why the terms available are often better than a first-time buyer with a small cash deposit would receive.
Several lenders will advance up to 100% of the discounted price. Others require a modest cash contribution on top, and a few will lend a proportion of market value rather than of price, which can release additional funds.
Not every lender participates. Right to Buy needs a lender whose criteria accept it, and one that also accepts the restriction placed on the title — a legal charge requiring repayment of some of the discount if you sell within the early years. That restriction affects the security, so it is the reason several mainstream lenders decline these cases outright.
You will still need funds for the costs the mortgage does not cover: legal fees, searches, a survey, and any works the property needs. Budget for these separately from the purchase itself.
Benefits of a Right to Buy Mortgage
Purchasing your council home offers several advantages:
- Significant Discounts Save thousands through the Government's discount scheme.
- Affordable Homeownership Make the transition from renting to owning with manageable monthly payments.
- Building Equity Start investing in your future by owning your property.
- Personalised Support From mortgage selection to finalising the purchase, we provide tailored advice every step of the way.
Our Comprehensive Right to Buy Mortgage Service
We ensure your Right to Buy journey is smooth and stress-free with our full-service approach. Your experience begins with a free consultation, where one of our qualified advisors discusses your options and assesses your eligibility for the scheme. From there, we conduct thorough research across the whole mortgage market to identify the best deal tailored to your unique situation.
Once we've pinpointed the most suitable mortgage and any relevant government-backed schemes, we guide you through the entire application process. Our team manages the paperwork, liaises with solicitors and estate agents, and keeps you informed every step of the way. From your initial inquiry to moving into your new home, we are committed to providing seamless and supportive service.
Our Mortgage Solutions
We also offer a wide range of mortgage options to suit diverse needs:
Contact Us
First Time Buyer Mortgages
First Time Buyer Mortgages: Ideal for those entering the property market for the first time.
Home Mover and Purchase Mortgages
Home Mover and Purchase Mortgages: Designed for those moving to their next property, these mortgages streamline the process of buying a new home.
Remortgages
Remortgages: Helping you switch to a better rate, release equity, or consolidate debts.
Self-Employed Mortgages
Self-Employed Mortgages: Tailored options for business owners and freelancers with varying income streams.
Adverse Credit Mortgages
Adverse Credit Mortgages: Solutions for individuals with poor credit history to secure a mortgage.
Buy to Let Mortgages
Buy to Let Mortgages: Designed for property investors looking to rent out residential properties.
Portfolio Mortgages
Portfolio Mortgages: Simplifies financing for landlords managing multiple rental properties.
Self-Build Mortgages
Self-Build Mortgages: Provides funding for constructing your own home.
Ex-Pat Mortgages
Ex-Pat Mortgages: Assistance for UK nationals living abroad who want to purchase property in the UK.
Fill In The Form To Get Started
Right to Buy can be a brilliant route to owning your home, but the mortgage steps can still feel complex.
We will review your information and call you to explain the route that fits your circumstances. You will receive clear repayment estimates, lender options, and a simple document checklist covering what your landlord, your solicitor and your lender will each need from you.
We can also talk through fees, timescales, and what to do if the valuation differs from what you expected — a common situation on Right to Buy purchases, and one with more options than most people realise.
Complete the form today to get started. With the right lender identified at the outset, these applications move considerably faster and complete with far less stress.
Common questions
Am I eligible for the Right to Buy scheme?
You may qualify if you've been a council tenant for at least three years and the property is your main residence. Contact us to confirm your eligibility.
How much discount can I get?
Discounts can go up to 70% of the property's market value, depending on your tenancy length and the type of property.
Can I use a mortgage to fund the purchase?
Yes, a mortgage is often used to finance the remaining cost after applying the discount. We'll help you find the best mortgage for your needs.
Are there restrictions on selling the property later?
Yes, if you sell the property within a set period (typically five years), you may need to repay some or all of the discount.
Can I buy with a joint applicant?
Yes, you can apply with someone who shares your tenancy or a family member who has lived with you for at least 12 months.
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