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