What is the Right to Buy?
The Right to Buy is a government scheme to allow secure tenants the right to purchase their Council home at a discounted price.
- Right to buy enables you to buy your home at a discount price if:
- You are a Local Authority secure tenant
- You are an assured tenant of a Registered Social Landlord (RSL) who was a secure Local tenant (e.g your home was transferred from Council to Housing Association)
- You have been a tenant for a minimum of two years, if you were a secure tenant before 18th January 2005
- If you are a new secure tenant on or after 19th January 2005 the qualifying period increases to five years
Feel free to contact our mortgage adviser who can deal with Right to Buy sales of council homes in the North East.
Please note, your home may be repossessed if you do not keep up repayments on your mortgage.
The overall cost for comparison is 8.5% APR. This relates to Adverse credit and Right to Buy. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.