NEW 2012 Right to buy

obone

Now I know this is a touchy topic for many people. Especially those who bought their property the hard working way and I admire you for that, but as you may know by now the government have given council and housing association tenants a blessing (some may say). Now I am one of those people and it be silly of me to turn down a offer like this especially when my long tenancy grants me a £75,000 discount. Now what I would like to ask is that on a £230,000 property with this entitled discount and a £20,000 deposit. 1) What are mortgage lenders like with their rates and lending when it comes to this type of mortgage? I will be a first time buyer 2) Does the discount and my saved £20,000 all count as a deposit on the purchase price or is it my saved earnings they only take into consideration. I have a excellent credit history with no debts. Thanks for your time

ACG

Im just in the process of trying to get a mortgage for someone with a right to buy. Lenders have different views on how they look at it and so obviously the rates you get will vary quite a bit.

Im a little biased but i would suggest you speak to an advisor, even if you dont eventually use them.