Right to Buy Mortgages Liverpool
What is a Right to Buy / Acquire Mortgage?
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A Right to Buy Mortgage is where you purchase a local authority owned property that you have lived in for a set amount of time at a discounted price. Typically, the longer you’ve lived in the property, the larger the discount you will receive. A Right to Acquire mortgage works on a similar basis however the typical discount is set at £9,000 and is usually involving a purchase from a housing association rather than the local council. As a right to buy mortgage broker in Liverpool we're here to help every step of the way.
Things to Consider:
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Every person named on the tenancy agreement must be named on the mortgage.
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Improvements you’ve made to your home can be offset against the purchase price to increase your discount.
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If one of the applicants is older / retired, this could impact the length of time you can borrow the mortgage over.
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If you sell the house within 5yrs of buying, you will need to repay part of the discount you have received.
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You can use your discount solely as your deposit so in most instances you won’t need your own deposit.
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You might be able to borrow funds from the discount amount in your initial purchase mortgage for home improvements in your home.
​Benefits of Using a Right to Buy Mortgage Advisor in Liverpool:
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We will assist you with the Right to Buy application once we have established that a mortgage is available for you.
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We will liaise with the local authority and solicitors on your behalf throughout the process to make sure everything is moving within the required timescales.
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We have access to lenders who can potentially ignore the age of applicants if you are purchasing with a parent or grandparent allowing for a long term mortgage.
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We can provide supporting evidence to your mortgage lender to help approve lending for home improvements out of our discount allowance.
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We have close links with the local authority and housing associations across Merseyside to assist with any issues that may arise.