Complicated first time buyer / right to acquire

Richard_Overton_2911

I was always told that by various HA's that I contracted too the "Right to aquire" was always at full market value so no discount but the "Right to Buy" scheme did attract the discount...So whats the difference between RTB and RTA?..

ACG

RTB attracts a hefty discount built up over years.
RTA attracts a much smaller discount, I think up to 10%? But I am not 100% on the actual amount.

Richard_Overton_2911

ACG wrote: »

RTB attracts a hefty discount built up over years.
RTA attracts a much smaller discount, I think up to 10%? But I am not 100% on the actual amount.

A friend of mine bought the HS home they had lived in for 18yrs (about 5yrs ago) under the RTA scheme and paid full price for the house. This was from Sanctuary HA. I remember there being a Rural restriction so they could only purchase 80% in total. Seems strange they didn't get any discount though.. Thanks for the reply BTW..

ACG

I dont think it is an automatic right that you get the discount with RTA, I think there needs to be certain criteria that has to be met before the buyer and property is illegible. There are some properties that will never be eligible (based on the current rules).

I am far from the best person to answer the questions about RTA. It is not really something I get asked about.

System

Rta has a discount from 9-16k depending on local authority and if the housing association is participating. Luckily for me mine is and theyve already told me im eligible for the £9000 the only criteria is you have to live in the house for 5 years and not own another property!! I think there might be something about being built pre 1997 too !!!55357;!!!56833;

csgohan4

tessiesmummy wrote: »

thanks for all the input. I'm finding this very stressful! affording the mortgage and upkeep will not be the issue in reality its just getting it down on paper thats the hard part!

all my defaults will be gone by December this year. and if I settle the ccj in full (im currently on a payment plan that I've never missed a payment) would my chances be any better then?

come September ill also be in a position to go back to a permanent position once youngest child is in school.

so what I am asking is if I try my luck now at getting a mortgage (seeing as ive started the process and got the deposit saved) and get refused would that damage my chances for me to try again this time next year?

thanks

Lenders only go on the now and you have a zero hours contract, they don't care about your intentions in the future or whether you will have a permanent contract or clear your debts.


The fact your still on a payment plan shows poor credit history. You really need an adverse credit broker to evaluate your options

System

Nursing Bank!!
This income should be keyed under the relevant dropdown option in the Other Income section and not added to basic income. The exception to is when it!!!8217;s the applicant!!!8217;s only source of income received in which case manually calculate 60% and key this income into Gross Basic Salary field

Yes

Main / Other

60% (Main) / 100%!
(Other)

I have just come across this in the Halifax lending criteria and from what I can decipher does this mean they will use my job for a mortgage but based only on 60% of my income as it is my only job?