MBA FINANCIAL LTD
Right to Buy
Right to Buy allows most council tenants to buy their council home at a discount. The government offers discounts from the standard market value of a property, which most lenders view as the equivalent of a deposit.
Right to Buy discounts can vary depending on property type, the location and the number of years as a council tenant. The rest of the purchase price needs to be financed through a lender as a mortgage.
Right to Buy is based on English Scheme only. The rules differ in Northern Ireland and Right to Buy is no longer available in Scotland and Wales.