I'm currently looking for a right to buy mortgage. The house value is £110,000 and purchase price £33,000. It will be a joint application as my dad is the named tenant and gets maximum discount. he is currently 83 so most banks wont lend the money due to his age, looking for a full repayment over 8 years, preferably 5 year fixed, could you assist on this?
Ask the Specialist response:
Thanks for your email.
This is a situation that we regularly assist clients with. Through our contacts at a range of lenders we have the ability to obtain mortgages on a right to buy basis ignoring the status of the elder applicant, providing the mortgage is affordable in your personal name. It is a common difficulty for clients to face when all parties on the right to buy document needs to be on the mortgage.
If you just wish to obtain an indication on whether we are able to assist you, given your specific circumstances, I'd recommend speaking to one of our Advisers on 02077100400 or send us an enquiry online and one of our Advisers will call you back.