Council right to buy

XYZ1000

hello

I need some help if possible if anyone has been through this process or has worked in the field .... I can claim some discount on the right to buy scheme from a council property that I have rented for many years.

I have been asked to look for a mortgage for the rest. I just wondered if the fact that there will be this amount of money ready into the property the lender will see that as a deposit? Or do I still need 5% as well.

missprice

Depends on the lender but usually the discount is classed as deposit.
You still need a large amount to cover legal fees, mortgage fees, and any rent owing must be paid before exchange.

ETA is the discount enough to be at least 5%

XYZ1000

thanks for your reply Missprice.

The discount is almost half the total price.