Right to Buy in Nottingham

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Buy your council house under a 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 a 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.

How is the discount is worked out?

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.

 

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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How does a Right to Buy in Nottingham work?

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. Here is how you can go about finding this out:

 

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

 

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.

Are you looking to speak with a Right to Buy Mortgage Advisor in Nottingham?

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.

 

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 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.

 

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.

Reviews Stars4.94 Rating269 Reviews

Common mortgage
questions

Usually, mortgage lenders will let you use your Right to Buy discount as a deposit. However, other lenders may expect you to put down an additional deposit to be certain that you’ll be able to afford a Right to Buy mortgage in Nottingham.

Your free mortgage consultation with us will last around an hour. During this consultation, your dedicated Mortgage Advisor in Nottingham will get to learn a bit more about your personal and financial situation.


Once your consultation is finished, your Mortgage Advisor in Nottingham will go away and try and find you a perfect mortgage deal tailored to your circumstances. If you love the mortgage offer that they’ve picked out and want to continue, the next step is to submit your mortgage application!

Our mortgage process consists of multiple different steps:

1. Once you get in touch, we will have you carry out our Fact Find so that we can get a bigger picture of your mortgage situation.

2. You’ll undergo your free mortgage consultation, then your dedicated Mortgage Advisor in Nottingham will begin searching for mortgage deals that are tailored to your circumstances. If we find you an offer that you are happy to proceed with, we can get the ball rolling with your mortgage application.

3. We will perform a credit check on you in order to obtain an agreement in principle. Furthermore, we will get some evidential documents from you in order to back up your mortgage application.

4. We will submit your mortgage application and wait for a formal mortgage offer to be issued.

As a Mortgage Broker in Nottingham, we always advise applicants to obtain an Agreement in Principle before viewing properties. Firstly, you’ll need an Agreement in Principle to make an offer on a property. Secondly, having one in place could put you in a position to negotiate prices.

An Agreement in Principle typically lasts for 30-90 days. This timeframe may change depending on the lender that you are using.


If your Agreement in Principle expires, you can easily renew it by getting back in touch with your Mortgage Advisor in Nottingham or your lender.

It’s possible to obtain a second mortgage; as a Mortgage Broker in Nottingham, here are the most common reasons we see for people wanting a second mortgage:

– Debt consolidation
– Home Improvements
– Buy to Let
– Other, e.g. for a Family Member, Holiday Home, etc.

If you’ve had bad credit issues in the past, you may find it a little harder to get a mortgage, but that isn’t saying you still can’t get one!

Lenders may ask for a slightly higher deposit if you’ve had bad credit in the past. Some lenders may ask for a deposit of around 10-15%.

If you are able to submit at least one year’s of accounts, the more likely you are of being able to obtain a mortgage. Most of the lenders that we use look at your salary plus dividend to calculate the maximum mortgage amount. Others may go off your net profit, it all depends on the lender.

  • Photo ID (Driving license, Passport, etc.).
  • Proof of Address (Utility bills, tax bills, credit card statements, etc.).
  • Latest 3 months’ payslips & Latest P60 (employed applicants)
  • Latest 2 years’ tax calculations and corresponding overviews (self-employed applicants)
  • 3 months’ bank statement proving the deposit being built-up with an explanation for any large credits.

Your free mortgage consultation in Nottingham will usually last around an hour. Following the consultation, we can turn around an Agreement in Principle for you within 24-hours. Now it’s just the case of submitting your mortgage application. A formal offer can take around three weeks on average to come back.

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 Nottingham.

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

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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

© 2022 Nottinghammoneyman

Nottinghammoneyman, Gothic House, Barker Gate, Lace Market, Nottingham, NG1 1JU.

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