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Right to Buy Mortgage Advice in Nottingham

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7 days a week, 8am - 10pm

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Right to Buy Mortgage Advice in Nottingham

Transition from tenant to homeowner in Nottingham with Right to Buy. Speak to mortgage expert today to discuss your right to buy options.

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What is Right to Buy in Nottingham?

The Right to Buy Scheme is ran by the government, and will allow any eligible tenants who are living within England, to purchase their current rental property from the council for a slightly discounted price.

So long as you have spent at least 3 years (this doesn’t always have to be continuous) renting from your local authority and are secure tenants of your local authorities property, you may be eligible for a Right to Buy in Nottingham.

When you purchase a property via Right to Buy in Nottingham, that property will be valued at the full market price with the discount from the government being applied before you make your purchase.

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Right to Buy Mortgage Advice in Nottingham

Purchase your house under the Right to Buy in Nottingham.

If at the moment you are currently residing in a council house and you are named on the tenancy agreement, you may be eligible to purchase your home from the local authority (this is usually the council or housing association) for a discounted price.

Generally speaking, you’ll find that because you are being given a discounted purchase price, you won’t be required to put down a deposit (though this isn’t always the case).

What is the process of a Right to Buy discount in Nottingham?

The discount will be at a percentage of the property price. This discount is determined from a few different factors, such as where you are living, as well as how long you have been a council tenant.

Something that is perceived to be a major advantage for taking out a Right to Buy in Nottingham is that because of your discount, there will be equity already in your house. Again, there’s a lot that will determine how much, such as your discount amount and the properties true value.

For the most part, we find that it is first time buyers who are looking to do a Right to Buy in Nottingham. As a mortgage broker in Nottingham, we work with you, the customer, supporting and guiding you through every step of the mortgage process. This is the case from when you first get in touch, all the way until completion.

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FAQs for Right to Buy in Nottingham

Do I need a deposit for a Right to Buy mortgage in Nottingham?

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Do I need a deposit when purchasing a council home? Many high street lenders ask you to have a minimum of between 5% and 10% of the property price saved as a deposit before they’ll offer you a mortgage. However, some specialist lenders will let you use your Right to Buy discount as a deposit instead.

What is the mortgage process for a Right to Buy Nottingham?

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The process typically involves:

  • Eligibility Check: Ensure you qualify for the Right to Buy scheme.
  • Mortgage Pre-Approval: Obtain pre-approval to understand your borrowing capacity.
  • Property Valuation: The property is valued to determine the purchase price.
  • Mortgage Application: Submit a mortgage application to a lender.
  • Legal Process: Legal processes, including conveyancing, take place.
  • Mortgage Offer: Once approved, you’ll receive a mortgage offer.
  • Completion: Finalize the purchase and move into your home.

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Our Right to Buy Mortgage Process

Free 30-Minute Mortgage Appointment

Step 1

Speaking with one of our expert mortgage advisor in Nottingham is essential to discuss your mortgage scenario.

We Can Search 1000s of Mortgage Deals

Step 2

With a wide selection of lenders offering specialised products designed specifically for those utilising the right to buy scheme.

Submit Your Mortgage Application

Step 3

Our committed mortgage advisor in Nottingham will handle the submission of your mortgage application and organize any additional documentation required by the lender.

Protecting You and Your Mortgage

Step 4

Alongside finding the most suitable mortgage deal, we are good at assisting those looking for insurance coverage to protect you and your loved ones financially.

Our Simple Right to Buy Process

Free Mortgage Appointment

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As an open & honest mortgage broker in Nottingham, we always aim to help our customers, including those who are in the market for a Right to Buy in Nottingham. From your first point of contact, all the way through until your mortgage completes, your trusted and experienced mortgage advisor in Nottingham will work alongside you, ready to answer all of your questions.

1000s of Deals

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Our team of mortgage advice experts in Nottingham are able to search through 1000s of mortgage deals for you, working hard to try and find you the perfect mortgage deal for your circumstances. We can also offer our assistance when it comes to arranging conveyancing solicitors, helping you to decide on which survey would be right for you to choose. If you need any help with other additional homebuyer services, please feel free to ask your mortgage advisor. They will do their best to help in any way that they can.

Our Service

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Our loyal team of mortgage advisors in Nottingham will be on hand to provide guidance all throughout the week, from early until late. The Right to Buy process isn’t always straightforward and we will do our best to help you over any hurdles you come across. We aim to reduce your stress levels, helping you to feel both relaxed and excited for your mortgage outcome.

7 Days a Week

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Mortgage advice in Nottingham is accessible at times that best suit you. We have time slots to work around both your work and personal life, from early until late, including weekends, subject to availability. Please take a look at our amazing customer reviews. They are a genuine reflection of the level of service we always strive to provide our customers with.

Malcolm and Amy Davidson - Mortgage Advice in Nottingham

We Search 1000s of Right to Buy Mortgages in Nottingham

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Common Right to Buy Mortgage Scenarios

Checking Eligibility

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Throughout our time working in the industry as providers of fast & friendly mortgage advice in Nottingham, we have helped all kinds of customers to get onto the property ladder using a Right to Buy in Nottingham. There are a different ways you may be able to do this, but first you will need to make sure that you are definitely eligible.

First of all, you will have to contact your local council or housing association and fill out an application form for the scheme.

Purchase Price

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Your next step will be a small wait, whilst they check your details to make sure you are eligible for a Right to Buy in Nottingham.

Start Your Application

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Once they have confirmed your eligibility, you will be offered a purchase price on your home.

From that point onwards, you will be given a specific period of time for you to accept their offer.

Finally, once you have agreed on the price that they have offered, we can get started with your mortgage application.

Mortgage Broker in Nottingham

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We always recommend that you sit down and work out all of your finances before taking on something like this. Figure out your income and your outgoings, in order to better prepare for the journey ahead. Doing so can give you a much clearer idea of the money that you are going to have free for your potential mortgage payments.

The way we would personally do it, is to look at what you have now as a tenant, then compare all of that to how it could be for you as a homeowner. Our dedicated mortgage advisors are more than happy to offer you their guidance on this, to make sure you are mortgage ready for the future.

Book your free mortgage appointment online today, to speak with a trusted Mortgage Advisor in Nottingham.

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Nottinghammoneyman.com & Nottinghammoneyman 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, Nottingham, 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

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