Right To Buy

Mr_Curious

Hi People,

Just after some views on the right to buy.

All views welcome! Any info as to mortgages (If and how they differ from a normal first time buyer?) also welcome.

Thanks,

Mr C

kingstreet

The mortgage products are the same.

You can borrow 100% of the discounted purchase price.

Only the tenant named on the tenancy agreement can buy, with any family member who has lived in the property for twelve months or longer.

The councils pre-emption period lasts five years. During that time you'd need a deed of postponement from the council if you want to remortgage. A five year fixed rate may be a better option, rather than hoping your existing lender will have a decent deal for its existing customers when your first deal ends, if it's shorter.