Right to buy mortgages
Are you currently living in a council property and dreaming of calling it your own? At Airborne Mortgages, we understand the significance of homeownership and the aspirations you hold for your future. Our dedicated team is here to guide you through the Right to Buy Mortgage process, making your dream home a tangible reality.
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What is the Right to Buy Mortgage Scheme?
At Airborne Mortgages, we specialise in facilitating Right to Buy Mortgages, ensuring you make the most of this significant homeownership scheme.
As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments.
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Help-to-buy Mortgages
Eligibility Criteria:
To be eligible for the Right to Buy mortgage scheme, tenants typically need to meet the following criteria:
- Length of Tenancy: The minimum qualifying period for secure council tenants is usually three years, while housing association tenants may need five years.
- Type of Property: The property you’re looking to buy must be your main residence and should be self-contained with your own front door, bathroom, and kitchen.
- Discounted Purchase Price: The discount you receive depends on various factors, including the length of your tenancy, the type of property, and its market value.
- Financial Capability: Lenders will assess your financial situation to determine your capability to afford homeownership. This includes income, credit history, and outstanding debts.
How Airborne Mortgages Can Help:
Navigating the Right to Buy Mortgage process requires expertise, and that’s where Airborne Mortgages excels. Our team will guide you through the intricacies of the eligibility process for specialist mortgages, such as discounted purchase price calculations, including the maximum discount for Right to Buy, and mortgage applications. We ensure a transparent and efficient process, empowering you to embrace homeownership with confidence.
Steps to Right to Buy Homeownership:
Eligibility Assessment: Our experts will evaluate your eligibility based on the tenure and type of property.
Discounted Purchase Price: We’ll assist in determining the discounted purchase price, factoring in the relevant criteria.
Mortgage Application: With eligibility confirmed, we’ll guide you through the Right to Buy Mortgage application, ensuring a seamless process.
Property Valuation: An independent valuation will be conducted to establish the property’s market value and discounted purchase price.
Mortgage Approval: We work towards securing mortgage approval, facilitating a smooth transition from tenant to homeowner.
Right to Acquire vs Right to Buy: What is the Right Mortgage Product for Me?
Right to Buy, applicable to council tenants, demands a minimum period of public sector tenancy, often around three years, and necessitates the property to serve as the tenant’s primary residence. In contrast, Right to Acquire targets housing association tenants, requiring a qualifying residency period, usually ranging from three to five years.
The discount structures vary based on factors such as location and property type. Both avenues necessitate careful consideration of financial aspects, including mortgage affordability and ongoing homeownership costs. Furthermore, homeowners must navigate resale conditions and potential repayment obligations tied to the initial discount.
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What our clients have to say
Kam and his team at Airborne have been a real game changer for us. They were understanding of our requirements from the beginning and accessible on the phone throughout the process. We had a fairly complex case, but this didn't stop Kam from finding a tailored solution for us, and we will be using Airborne again moving forward. We highly recommend Airborne to anyone who needs a Mortgage, and you will also gain a valuable friend in Kam - Top Man.
Jonathan MonkMarch 12, 2022
Mr Lodhia and Savraj were incredibly professional and prompt with my mortgage. Mr Lodhia was honest, well informed and was able to offer sound advice. I was given options within 24 hours, and they remained supportive throughout the process. I was thoroughly impressed and grateful for all the hard work the team put in!
I highly recommend Airborne to anyone who is looking to buy.
Devyani BhattMarch 12, 2022
My brothers and I were looking to jointly buy our first home and weren’t sure of how to go about it, High street banks couldn’t help us.
A friend recommended Kamlesh at Airborne Mortgage Solutions. He understood what we wanted and advised us on a great mortgage which we completed last week.
Thanks Kamlesh for putting up with our endless questions and being there to help.
Highly recommended to our friends and family.
ARYANJanuary 12, 2022
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