Mortgage first time buyer

NicoleOEIJ

Morning

I'm planning for the future but have a question, in 2 years I'd like to buy my council property.

If the house is worth 60k and I put a deposit down of 6k can I borrow 54k even if the council sell it to me for say 40k, can I use the 14k for home improvements?

Thanks

kingstreet

To borrow into the council discount during the pre-emption period, you would need council agreement and a deed of postponement allowing it.

This is unlikely to be permitted.

It may be possible to borrow 100% of the discounted purchase price, so use the £6k for your improvements instead.