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RTB Buy to Let
confusedandcurious95
Posts: 1 Newbie
Hello desperate for advice and finding this a minefield! I live in a council flat and have a year left until I have right to buy at the 50% discount.
however I don’t like the area and want to move but feel just giving up the flat is a massively missed opportunity.
however I don’t like the area and want to move but feel just giving up the flat is a massively missed opportunity.
Is it a possibility to get a Buy to Let Mortgage on a right to buy council flat, even I provide a hefty deposit?
I would be looking to relocate ASAP after the purchase
the other option is buying the property (with the discount) in cash- early inheritance would I be able to let the property out immediately after this?
Are there sanctions or a risk of losing my home if I let it out?
the other option is buying the property (with the discount) in cash- early inheritance would I be able to let the property out immediately after this?
Are there sanctions or a risk of losing my home if I let it out?
Please let me know if anyone has been in a similar situation please.
really need advice
many Thanks,
jenny
really need advice
many Thanks,
jenny
0
Comments
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They only offer residential mortgage for RTB.
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I thought you had to plan to continue living in the property to qualify?
2026 wins - Parker Pen, American Sweets bundle, dish magic bundle
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I believe you must buy it with a residential mortgage but once you own it you are allowed to rent it out if needed, subject to lender approval1
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confusedandcurious95 said:Hello desperate for advice and finding this a minefield! I live in a council flat and have a year left until I have right to buy at the 50% discount.
however I don’t like the area and want to move but feel just giving up the flat is a massively missed opportunity.Is it a possibility to get a Buy to Let Mortgage on a right to buy council flat, even I provide a hefty deposit?I would be looking to relocate ASAP after the purchase
the other option is buying the property (with the discount) in cash- early inheritance would I be able to let the property out immediately after this?
Are there sanctions or a risk of losing my home if I let it out?Please let me know if anyone has been in a similar situation please.
really need advice
many Thanks,
jennyCouncil properties are for the people that need them the most, that have nowhere else to liveTrying to make one a cash cow for yourself seems very selfish7 -
With a “hefty deposit”, why not buy in the area you’d like to live in?Don’t think of it as a “massively missed opportunity”, but as already having had a good helping hand on your way
Honesty is the best poverty.3
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