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Right to Buy question
AliceBanned
Posts: 3,186 Forumite
Hello
I am in a Housing Association flat which I would like to buy. I have not set the buying process in motion yet, because I have a few credit history problems to resolve which may take a few more months. I will by then have paid off my debts but won't have a deposit. As my tenancy includes a Right to Buy guaranteeing me from £10k to £16k (but no more) discount, is this likely to help me get a good mortgage deal despite my problems in the past? I earn £25k with £2k rail travel outgoings and rent is currently £70pw. I think I could afford to buy rather than rent but am a bit nervous about the whole thing!
Thanks for any advice, I'd be very grateful, especially on arranging mortgages taking right to buy into account. Should I see an IFA?
Many thanks
I am in a Housing Association flat which I would like to buy. I have not set the buying process in motion yet, because I have a few credit history problems to resolve which may take a few more months. I will by then have paid off my debts but won't have a deposit. As my tenancy includes a Right to Buy guaranteeing me from £10k to £16k (but no more) discount, is this likely to help me get a good mortgage deal despite my problems in the past? I earn £25k with £2k rail travel outgoings and rent is currently £70pw. I think I could afford to buy rather than rent but am a bit nervous about the whole thing!
Thanks for any advice, I'd be very grateful, especially on arranging mortgages taking right to buy into account. Should I see an IFA?
Many thanks
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