Right-to-Buy (RTB) is a scheme under which longstanding local authority tenants are entitled to purchase their homes at a heavily discounted price.

Although RTB was in its heyday perhaps 30 years ago, we do still get enquiries in this area.

There are major implications when a tenant buys their property from the council and these should always be considered carefully. We will always discuss these with our clients. We will also ensure that such a purchase is financially viable and that any future mortgage payments will be affordable.

Not all lenders will lend on RTB properties and we will advise you of the best institution to approach, once we have found out more about your financial circumstances and the details of the property.

Unusual Properties

The very nature of this scheme means that we often deal with different types on non-standard properties. In the post-war period, local authorities experimented with various types of property construction methods. We regularly come across homes which are either high-rise, prefabricated, concrete-construction, steel-framed or timber-framed. This adds an additional layer of complexity to securing a suitable loan.

Once we have identified a lender who we believe will be happy to provide the desired loan, we are able to make enquiries on your behalf as to the suitability of the property itself. We have previously worked with local surveyors to gather information, which we can then cross-reference with the lender’s criteria. Almost all types of properties can have a mortgage secured upon them.

Adverse Credit RTB

When clients have secured a RTB offer, it is often an opportunity that they do not wish to miss out on. However, clients have approached us in the past with concerns about their credit history and have worried that this might prevent them from taking up their offer.

There are certainly lenders in the market who will consider lending on a RTB property even if an applicant has a less-than-perfect credit history. As in all adverse-credit cases, we strongly recommend that you apply for a copy of your credit file before we decide on the most appropriate lender to approach. Click here to send us an online mortgage enquiry.


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About Clifford Davis

Clifford Davis is a premier provider of property-related financial advice. Based in Barnet, North London, we pride ourselves on being able to advise and to provide guidance in all areas of property-related finance.

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Frequently asked questions

Answers to the most common question we get asked
What is a right to buy mortgage in the UK?
A right to buy mortgage in the UK is a type of mortgage that allows council tenants to purchase their rented property at a discount from the local authority.
Who is eligible for a right to buy mortgage in the UK?
Eligibility for a right to buy mortgage typically includes council tenants who have lived in the property for a certain number of years and meet specific criteria set by their local authority.
How much discount can I get on a right to buy property in the UK?
The amount of discount on a right to buy property in the UK can vary depending on factors like the length of your tenancy and the type of property. Discounts are subject to government guidelines.
Can I use the right to buy discount as a deposit for my mortgage?
In some cases, the right to buy discount can be used as part of the deposit for your mortgage. However, you may still need to secure additional funds for the deposit.
What are the steps involved in the right to buy process in the UK?
The right to buy process involves several steps, including applying to your local authority, obtaining a right to buy offer, securing a mortgage, and completing the purchase.
Are there specific right to buy mortgage lenders in the UK?
Many traditional mortgage lenders offer right to buy mortgages in the UK. It's important to compare offers from different lenders to find the best deal for your situation.
What are the advantages of a right to buy mortgage?
The advantages of a right to buy mortgage include the opportunity to own your home, potential for significant discounts, and the ability to build equity.
Can I remortgage my right to buy property in the UK?
Yes, you can remortgage your right to buy property in the UK after you've completed the purchase. This can help you secure a better mortgage deal.
What happens if I sell my right to buy property in the UK?
If you sell your right to buy property within a certain period, you may need to repay a portion of the discount. The rules regarding this can vary.
Are there any financial assistance programs for right to buy mortgages in the UK?
Some individuals may be eligible for financial assistance programs to help with right to buy purchases. These programs can vary by location and circumstances.
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