Which banks offer mortgages on the right to buy scheme?

realfun

Trying to help a mate sort out a mortgage for a right to buy property. I cannot see online from any of the major high street banks offering mortgages on the rtb scheme.

Is this only available via brokers? Please advise.

kingstreet

Off the top of my head all banks and building societies allow borrowers to use their standard homebuyer products for RTB stuff.

It's normally available upto 100% of the discounted purchase price. There may be some special RTB products out there, but they don't end up much different to the standard fayre.

realfun

Thanks that helps.

My friend is looking for a mortgage for his family property.

House came valued at £315k,
RTB discount £75k
Family deposit contribution £50K

They are looking fo fixedr interest only with 35years. The best deal I could find for them is with HSBC.

I know there's other factors to take in consideration, but giving their circumstance is this the best deal for them?

kingstreet

I wouldn't presume to tell someone I don't know what is best for them.

They need to look at their needs and circumstances and decide if the product best suits them.

They are unlikely to get interest-only in the current climate. Not without a repayment plan anyway.