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Right to buy mortgage
Leeroy18
Posts: 1 Newbie
Hi I'm looking to buy my council house with the right to buy scheme, if there are rent arrears and this is payed in full prior to a mortgage application will I get accepted for a mortgage or will the arrears affect my mortgage chances. Thanks hope for a reply to help me with this.
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Comments
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If you are currently in arrears I do not think the council will allow you to have the right to buy.
I am a Mortgage AdviserYou 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.1 -
How will you manage to keep up with mortgage payments when you get behind with your rent? The penalty for non payment of a mortgage are much more severe1
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Why do people reply when they have no idea what they are talking about?
Yes you can still buy the property, but you will need to have cleared the arrears before you purchase.
Source: HM government. (I cant post links)-3 -
What has that got to do with you?_shel said:How will you manage to keep up with mortgage payments when you get behind with your rent? The penalty for non payment of a mortgage are much more severe-3 -
🤣😂🤣😂theselfishaltruist said:
What has that got to do with you?_shel said:How will you manage to keep up with mortgage payments when you get behind with your rent? The penalty for non payment of a mortgage are much more severe
sorry dear, do you not quite understand how a discussion forum works?1 -
Nothing Wrong with ACG's post, in fact you actually confirmed it as well as the link below.theselfishaltruist said:Why do people reply when they have no idea what they are talking about?
Yes you can still buy the property, but you will need to have cleared the arrears before you purchase.
Source: HM government. (I cant post links)
Seems someone has a bone to pick? Perhaps another forum would be more suitable for you? starts with Mums and ends in net
https://righttobuy.gov.uk/apply/what-happens-next/
Last paragraph for link above
Nothing wrong with post #3 either, if your in arrears with a mortgage it can lead to repossession and the council won't rehouse as it will be seen as intentionally homelessness.
https://england.shelter.org.uk/housing_advice/homelessness/rules/intentionally_homeless
Nothing judgmental at all in the posts so far."It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP1
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