Right To Buy Mortgages
The government's Right to Buy scheme has been running since the 1980s when the then prime minister Margaret Thatcher introduced it. It allows social housing tenants the right to buy their home from the council at a discount to its value on the open market.
Step 2Speak to an Advisor
STEP 3We'll arrange the mortgage
What Our Customers Say
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Top Discount
The top discount you can get varies by local authority and the rules are different in Scotland, Wales and Northern Ireland. For details of the latest discounts see: https://www.gov.uk/right-to-buy-buying-your-council-home/discounts
Housing Association Tenants
Some housing association tenants are also given the right to buy their home, but not all. Whether you qualify will depend on whether the right to buy was preserved in the event that your home was transferred from a local council to the housing association that now owns it.
Extending the Right to Buy scheme
The government has said it plans to extend its Right to Buy scheme to all tenants in housing association properties, but as yet this has not happened.
Using your Right to Buy
In order to use your right to buy, you'll need to get a mortgage - just as you would when buying a property on the open market. Most lenders have options for borrowers buying using the Right to Buy scheme, but they can look at your application differently. For example, some lenders allow you to use the discount you get on your Right to Buy as a deposit, meaning you don't have to raise extra cash to put in. Others, however, do want to see that you have saved a deposit.A mortgage broker will be able to take you through the options available to you so you are comfortable that you have the right deal for you and that you will be able to afford the monthly repayments comfortably.
