Right to Buy Mortgage Advice in and around the Bristol area

Right to Buy Mortgage Advice in Bristol

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What is a Right to Buy in Bristol?

The Right to Buy Scheme is a popular scheme often used by first time buyers, that is ran by the government and allows eligible tenants in England to purchase their property from the council for a slightly discounted purchase price.

 

So long as you have spent at least 3 years (this doesn’t always have to be continuous) renting from a local housing association and you are a secure tenant of a council owned property, you could find that you are eligible for a Right to Buy in Bristol.

 

When you buy a property using a Right to Buy in Bristol, the property will be valued at the full price that it would be on the market with the government discount applied before you make your purchase.

Purchase Your Council House Under the Right to Buy Scheme

It’s the goal of our dedicated and trusted mortgage advisors in Bristol to help all of our customers using the knowledge and experience we have gathered over time through our time of working hard within the mortgage industry, providing many with expert Right to Buy Mortgage Advice in Bristol.

 

Because there will be a rather sizeable discount being offered to the tenant, they typically won’t need to save up a deposit for the property out of their own pocket. This isn’t always necessarily the case, though we find it happens often.

 

In order to work out the homebuyers discount, they will take a look at various factors, such as the amount of time that you have been a tenant within the public sector, the type of property you’re buying and the true value of the property in question.

 

If you have taken out a mortgage on a Right to Buy in Bristol previously, this number may be lower than you could’ve otherwise expected. There are also options with several mortgage companies that allow you to borrow further funding for home improvements such as room extensions, new kitchen fittings etc.

Right to Buy Mortgage Process

To get the process started, you first need to check to see if you are eligible and speak to the council to request an application form.

 

Once they have received your application back, you will receive an offer notice which outlines the value of the property and the discount that is to be applied. You have a set amount of time to accept this offer.

 

We have the ability to help with your mortgage, solicitors and survey at any point that you need help with these.

 

As part of your free mortgage appointment, your mortgage advisor will be able to give you an idea of how much your Right to Buy mortgage in Bristol will cost and if you match the criteria for it.

 

How does it work? Get a quote nowMeet your advisor

We search 1000s of mortgage deals across a large number of lenders, including:

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Right to Buy Mortgage Advice in Bristol

During our time as dedicated and knowledgeable Mortgage Advisors in Bristol, we’ve encountered many different council home renters who have been keen to purchase the property they have been renting, from either their local council or housing association.

 

The way that homeowners can do this is by using the Right to Buy Scheme, which was brought into the world by the government, allowing local authority tenants to purchase their rental home. Below we have put together a list of the steps you need to take in order to obtain a Right to Buy in Bristol.

Checking Eligibility

The first thing that you’ll need to make sure you do, is contact the owner of your property, which will either be a local council or housing association.

 

When you do this, you’ll need to ask them if you are eligible for a Right to Buy in Bristol, which they will check for you by matching you up against the criteria for the scheme.

Purchase Price

Once you are able to confirm that you are in fact eligible for a Right to Buy in Bristol, the local authority you spoke to will determine the properties value and offer you a discounted purchase price for you, of which you will have a limited amount of time to accept.

Start Your Application

At this point, if you have accepted the purchase price offer that the local authority gave you for your Right to Buy in Bristol, it’s onwards to the exciting steps.

 

Book your free mortgage appointment and we’ll be able to get the ball rolling on your mortgage application process.

Useful Tips from a Mortgage Broker in Bristol

If you are wondering what your options may be for purchasing your current local authority rental property, the first steps are to find out whether or not you qualify for the scheme and what the discount applied may be.

 

Once you have determined an accurate figure of the property purchase price, you can then book a free mortgage appointment with an experienced Mortgage Advisor in Bristol, who will gather information on your income and spending habits, to make sure qualify for a mortgage.

Are you looking to get in touch with a Right to Buy Mortgage Advisor?

As an open & honest Mortgage Broker in Bristol with a reputation for providing an excellent mortgage advice service, we will always work hard to ensure our customers achieve the right outcome. This service of course extends to those looking to obtain a Right to Buy in Bristol.

 

From the first time you speak with a mortgage advisor during your free initial mortgage appointment, all the way until your mortgage completes and beyond, your trusted mortgage advisor in Bristol will make sure they are always on hand to answer any of your mortgage queries and concerns.

 

Unlike the type of customer experience that many may encounter when speaking to the mortgage advisor of a bank or building society, our team of affable and qualified mortgage advisors in Bristol have the ability to search through 1000s of mortgage deals on your behalf, matching you up with the perfect one for your circumstances.

 

We also have the ability to help out with the arrangement of conveyancing solicitors, giving you a better idea of which survey may be better suited for you.

 

If you require any assistance with any further services, please speak with your dedicated mortgage advisor and we’ll see how we can be of any help.

 

Our reputable and experienced team will be on hand to provide guidance and support to our customers, 7 days a week! A Right to Buy in Bristol can sometimes have its challenges, which we will always work hard to help you overcome.

 

Our fast & friendly service is designed to help reduce your stress-levels, leaving the hard parts in our hands, which you relax ahead of mortgage completion.

 

Please feel free to take a look at our amazing customer reviews. They are a wonderful reflection of the levels of service we work hard to provide to our customers when they contact us for expert Right to Buy Mortgage Advice in Bristol.

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Common mortgage
questions

Typically, our free consultation will last up to an hour or so. Our team can turn around an agreement in principle within 24 hours of speaking to an advisor. A formal mortgage offer can take around three weeks on average.

It’s typically three payslips for an employee to prove their income and the latest 2 years’ accounts for a Self Employed applicant. You will also need to provide the lender with proof of ID, address, and 3 months’ bank statements.

Once you have submitted a minimum one year’s accounts, you can get a mortgage. Most Lenders use your salary plus dividend to calculate the maximum mortgage, whereas some other lenders are known to go off your net profit.

Even if you have had credit problems, you may still be able to get a mortgage, though you may be required to put down a higher deposit than you otherwise would’ve, often 15% of the property purchase price.

You may find that it is possible to get a second mortgage on your home for things like debt consolidation or Home Improvements. If you are looking to take out a mortgage on a second property, either to use it for yourself, a family member, a holiday home, or a Buy to Let, this may also be possible.

An Agreement in Principle will usually last between 30 and 90 days, depending on the lender you go with. If your Agreement in Principle expires, you can always have it refreshed.

To avoid being disappointed if an offer falls through, we recommend that home buyers obtain an Agreement in Principle before you begin viewing properties in Bristol. At the very latest you should obtain an AIP prior to making an offer to assist your bargaining position with a seller.

As a trusted and hard-working mortgage broker in Bristol, we will carry out a Fact Find to establish your personal needs before we recommend the most suitable mortgage for your situation. A credit check will be required for an Agreement in Principle. Once you have given the lender all the relevant documentation and a valuation of the property has been completed, a formal mortgage offer can be issued.

Your free mortgage consultation with a trusted member of our mortgage advice team in Bristol will last around one hour. From there, your advisor will then recommend a mortgage for you with no obligation for you to proceed and you can decide whether you wish to take it or step back.

Lenders will often use the discount given to you by the council or local authority as your deposit. This isn’t always the case though, as some lenders, will still require you to put down a deposit in addition to this deduction. This may even be the case if you’ve been struggling with credit problems. A dedicated mortgage advisor in Bristol will do their best to answer your right to buy deposit questions.

We make it so easy!
Our 4 step process

Step 1

Contact the council for an application form and check your eligibility for the scheme.

Step 2

You'll receive a purchase price and from there we can take some initial details and book you in with a Mortgage Advisor in Bristol.

Step 3

From there your dedicated advisor will work by your side, ensuring the process goes smoothly.

Step 4

We’ll try to find you the most appropriate mortgage deal. We’ll be there to support you, right through to completion.

A telephone call where we can take some initial details and find out about your plan of action.

Enjoy finding a property!

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

Handy quick links

Bristolmoneyman.com & Bristolmoneyman 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

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain and you are not satisfied with our response to your complaint, you may be able to refer it
to the Financial Ombudsman Service, which can be contacted as follows

The Financial Ombudsman Service, Exchange Tower, London, E14 9SR
www.financial-ombudsman.org.uk

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Bristolmoneyman, St. Brandon's House, 29 Great George St, Bristol, BS1 5QT.

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