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mortgage for council house

glen70
glen70 Posts: 82 Forumite
in Mortgages & endowments
my partners council house is up for us to buy worth 60k on the market and we can buy for 28k.i have around 5k deposit so how do i go about buying it for us?
thanks.

Comments

  • GMS
    GMS Posts: 5,388 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Are you named on the tenancy agreement or living there?

    Deposit not needed for Right to Buy as the equity can be used as the deposit.

    Might be worth speaking to a broker
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • glen70
    glen70 Posts: 82 Forumite
    thanks for fast reply i am not on the tennancy
  • Mojisola
    Mojisola Posts: 35,574 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    glen70 wrote: »
    thanks for fast reply i am not on the tennancy
    glen70 wrote: »
    my partners council house is up for us to buy worth 60k on the market and we can buy for 28k.i have around 5k deposit so how do i go about buying it for us?
    thanks.

    In that case, she will be entitled to buy the house.
  • glen70
    glen70 Posts: 82 Forumite
    yes she has been offered it for 28k but can i get the mortgage in my name as well as her? i will be paying the mortgage
  • xxzeezeexx
    xxzeezeexx Posts: 37 Forumite
    Im in the middle of a RTB atm. Im not on the tenancy but my relative has shared the right to buy with me.
    If you have been living with her for over 12 months your partner can share the right to buy with you but if not, only she can be party to the mortgage.
  • kingstreet
    kingstreet Posts: 39,434 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    If you have lived in the property twelve months or longer you can be party to the purchase with her and the mortgage will also need to be in joint names.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
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