Right to Buy Mortgage

A Right to Buy Mortgage: What it is and Why You Should Consider it

If you're a tenant of a council or housing association property, you may have the right to purchase your home at a discounted price through the Right to Buy scheme. This scheme has been in place since 1980 and has helped many tenants become homeowners.

A right to buy mortgage is a type of mortgage specifically designed for individuals who are exercising their right to buy a property from their council or housing association. It is designed to help you finance your purchase and make the process of buying your home as straightforward as possible.

The Benefits of a Right to Buy Mortgage

Discounted Purchase Price: The most significant advantage of the Right to Buy scheme is the discounted price of the property. You can buy your council or housing association home at a price that is lower than the market value, making homeownership more affordable for you.
Flexibility: A right to buy mortgage allows you to choose from a range of mortgage products that best suits your financial needs. You can choose a repayment mortgage, which means you repay both the capital and the interest over a specified period, or an interest-only mortgage, where you only repay the interest.
No Rent Payments: Once you have purchased your property, you will no longer have to pay rent to your council or housing association. This can help you to free up some extra money each month, which you can use to pay off your mortgage or save for other things.
Long-Term Investment: Buying your home through the Right to Buy scheme is a long-term investment. As you pay off your mortgage, you will gradually build up equity in your property, which you can use to secure further loans, or sell when you need the money.
Sense of Ownership: Owning your home gives you a sense of pride and security. You can decorate, renovate and make other improvements to your home without having to ask for permission. You will also have the peace of mind that comes with knowing that you and your family have a secure place to call home.

Why Choose Patrick Wayne Wealth for Your Right to Buy Mortgage?

At Patrick Wayne Wealth, we understand that buying a home is a big decision, and we want to help you make it as stress-free as possible. Our team of experienced mortgage advisers will guide you through the process, and help you find the right mortgage product to meet your needs.

We take the time to understand your financial situation, your goals and aspirations, and will work with you to create a tailored mortgage plan that suits you. We also offer a range of competitive mortgage products from leading lenders, so you can be sure you're getting the best deal.

So, if you're thinking about exercising your right to buy, or simply want to find out more about right to buy mortgages, contact Patrick Wayne Wealth today. Our team of experts is here to help you make the right choice for your future.

Please note your home may be repossessed if you do not keep up repayments on your mortgage.

Back to Mortgage page

How can Patrick Wayne Wealth help you?

Bad credit? Self-employed? Complex situation? No more computer says no.

We know nothing replaces humans when it comes to understanding individual needs and circumstances. Not every customer is the same, so we match you with your own Mortgage Expert, someone with a track-record of helping people in your situation. Deal with people, not robots.

We make mortgages possible

Speak to an Expert