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Right to Buy in Essex is a government scheme that allows eligible council tenants to purchase their council home at a discounted price.
This discount can vary depending on factors such as the length of time you’ve been a public sector tenant and the type of property you’re purchasing.
The scheme offers an excellent opportunity for those in Essex to step onto the property ladder, turning their rented home into a property they own.
The Right to Buy process in Essex begins by checking your eligibility, which typically requires you to have been a council or housing association tenant for at least three years.
If you qualify, you can apply to buy your home at a discounted rate. The amount of discount you receive depends on factors such as how long you’ve been a tenant and the type of property.
Once approved, you can choose to arrange a Right to Buy mortgage to cover the remaining cost.
Working with mortgage broker in Essex like us can help you find a mortgage deal that suits your financial circumstances, ensuring you have the right terms in place for this significant purchase.
With the Right to Buy scheme in Essex, the discount on the property can often be used in place of a traditional deposit.
Some lenders accept this discount as your deposit, meaning you might not need to save up a separate sum. However, this varies among mortgage lenders, so it’s beneficial to speak to a mortgage broker in Essex like us who can guide you on the best route for your specific situation.
We will also help you explore lenders who offer competitive rates and terms tailored to Right to Buy mortgages.
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Richard
Very good service and excellent communication - definitely recommended
7 months ago
Shane
I cannot praise this team enough, they have been amazing. Especially Tom who went above and beyond to sort out my really complex mortgage and get me a deal which meant I could move to my new house. I would thoroughly recommend Essexmoneyman, they...
2 years ago
Shane
I cannot praise this team enough, they have been amazing. Especially Tom who went above and beyond to sort out my really complex mortgage and get me a deal which meant I could move to my new house. I would thoroughly recommend Essexmoneyman, they...
4 years ago
Imogen
We shopped around trying to find the best deal, should have come straight to Essexmoneyman, Nathan and Laura found me a perfect mortgage. When we had picked our product, they were speedy in ensuring they processed our applications quickly and taking...
2 years ago
Imogen
We shopped around trying to find the best deal, should have come straight to Essexmoneyman, Nathan and Laura found me a perfect mortgage. When we had picked our product, they were speedy in ensuring they processed our applications quickly and taking...
4 years ago
Jim
Matt and anna made the whole process super easy during the pandemic. as first time buyers we were worried but they made sure we were able to enjoy our first home together. thank you !!
2 years ago
Jim
Matt and anna made the whole process super easy during the pandemic. as first time buyers we were worried but they made sure we were able to enjoy our first home together. thank you !!
4 years ago
To be eligible for the Right to Buy scheme in Essex, you must have been a council or housing association tenant for at least three years, either consecutively or in the past.
The property must also be your only or main home, and it should be self-contained. Some homes, such as those designated for the elderly or disabled, may not be eligible.
The discount you can receive depends on several factors, including how long you’ve been a tenant and the type of property you’re buying. It’s a great way to make purchasing your home more affordable.
To get an accurate idea of what discount you might be eligible for, it’s best to speak with a mortgage advisor in Essex who can provide tailored advice based on your circumstances.
Yes, many mortgage lenders accept the Right to Buy discount as your deposit, which means you might not need to provide an additional deposit.
However, this depends on the lender, so speaking with a mortgage advisor in Essex can help you identify suitable options.
You can sell your Right to Buy property in Essex, but if you sell within five years of purchase, you may need to repay some or all of the discount you received.
The amount you repay depends on the property’s market value and how soon you sell it after buying.
Apart from the property price (minus the discount), you need to consider costs such as mortgage fees, valuation fees, solicitor fees, and Stamp Duty (if applicable)
It’s important to budget for these additional expenses when planning your Right to Buy purchase.
Get in touch with our mortgage advisors in Essex to get an accurate figure for the costs involved with getting a Right to Buy mortgage in Essex.
Yes, receiving benefits does not automatically disqualify you from applying for the Right to Buy scheme in Essex.
However, when applying for a Right to Buy mortgage in Essex, lenders will assess your overall financial situation, including your income and expenses, to ensure you can afford the repayments.
Getting mortgage advice in Essex can help you understand your options and find a suitable lender who considers applicants in similar circumstances.
Get in touch with our mortgage advisors in Essex for a free appointment.
We’ll discuss your Right to Buy eligibility, financial situation, and your homeownership goals.
Once we’ve confirmed your eligibility for the Right to Buy scheme in Essex, we will help you understand the potential discount you could receive.
We’ll guide you through the necessary forms and paperwork to get the process started.
With your eligibility and discount confirmed, our team will search through thousands of mortgage deals to find the most suitable option for you.
We’ll consider lenders who accept the Right to Buy discount as a deposit, making the journey to owning your home even smoother.
Once you’re happy with the mortgage offer, we’ll handle the application process on your behalf, liaising with lenders, solicitors, and other parties to keep things moving.
From start to finish, we’ll keep you updated until the keys to your home are in your hands.
We offer all our clients a free, no-obligation mortgage appointment to discuss your Right to Buy options.
Our mortgage advisors in Essex are here to provide straightforward, honest advice tailored to your situation.
During this chat, we'll assess your eligibility, explain the process, and answer any questions you may have—all at no cost to you.
As a mortgage broker in Essex, we have access to a vast range of mortgage deals from various lenders, including those that specialise in Right to Buy mortgages.
This means we can search thousands of mortgage products to find the one that best suits your needs, making your journey to homeownership as smooth as possible.
Our commitment to providing exceptional customer service has earned us 5-star reviews from our clients.
We take pride in guiding you through every step of the Right to Buy process, ensuring you feel supported and informed throughout
With our friendly, personalised approach, we aim to make your mortgage experience stress-free and straightforward.
We understand that life can be busy, so we’re here to help you at a time that suits you.
Our team of mortgage advisors in Essex are available seven days a week, ensuring you can get the advice and support you need, whether it’s during the day, in the evening, or over the weekend.
We work around your schedule to make the Right to Buy mortgage process as stress-free as possible.
The Right to Buy scheme in Essex primarily applies to council houses and flats, but not all properties are eligible.
Some types of housing, such as homes designated for elderly or disabled residents, may be exempt.
Additionally, if your home was transferred from the council to a housing association, different rules might apply.
It’s best to check with your local council or speak with a mortgage advisor in Essex who can help you navigate the specific requirements for your property type.
Yes, joint tenants can apply for a Right to Buy mortgage in Essex.
In fact, you can apply with up to three family members who have lived with you in the property for the last 12 months, even if they’re not named on the tenancy.
If you and your joint tenants are ready to purchase, our mortgage advisors in Essex can guide you through the process and help find a mortgage that suits everyone involved.
The Right to Buy process in Essex can take several weeks to a few months to complete.
Once you submit your Right to Buy application, the council typically has up to four weeks (or eight weeks if you’ve been a tenant for less than three years) to respond with their decision.
After that, a formal offer will be sent to you detailing the purchase price, discount, and terms, which you usually have 12 weeks to accept.
During this period, working with an experienced mortgage broker in Essex like us can help streamline your mortgage application, ensuring there are no unnecessary delays.
Having bad credit doesn’t automatically disqualify you from obtaining a Right to Buy mortgage in Essex.
While it can be more challenging to find a lender, some specialise in offering mortgages to those with adverse credit histories.
It’s advisable to speak with a mortgage advisor in Essex who can review your financial situation and explore specialist mortgage lenders who might consider your application.
They can also help you understand how the Right to Buy discount might work in your favour when applying with bad credit.
If you decide to sell your Right to Buy property within the first few years of purchase, you may be required to repay some or all of the discount you received.
The amount to repay depends on how long you’ve owned the property and its market value at the time of sale.
After the five-year period, you may be able to sell the property without repaying the discount.
It’s always recommended to speak with a mortgage advisor in Essex to understand how selling your Right to Buy home might impact your finances and future plans.
Once you have purchased your council home through the Right to Buy scheme, it becomes your private property, which means you can rent it out if you choose.
However, some mortgage lenders may have restrictions on renting out a property that was purchased using a Right to Buy mortgage in Essex.
It’s crucial to get mortgage advice in Essex on this subject and make sure that you mention your future plans for the property during your conversations with an advisor.
They may be able to help you find a lender that offers the flexibility to let out your property, ensuring you’re compliant with both mortgage and legal obligations.
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Essexmoneyman.com & Essexmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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Essexmoneyman.com & Essexmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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