Council Mortgage
Amicable Mortgage Services Limited
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council mortgage

Right to buy deal

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If you rent a council house and have been living there for more than two years you may be illegible under the right to

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buy scheme run by the local housing council to be a able to buy your home at a discount. This will depend on your circumstances and will have many different criteria for example the valuation, the time you have been a resident, the location, the current council housing supply and status. The discounts can be quite high, though in the future this may change.

Several high street lenders supply a right to buy mortgage. You can even apply with a poor credit history from adverse mortgage lenders for a right to buy type loan. It maybe possible occasionally to applied for extra on the mortgage for home improvement, though probably proof and evidence would have to be provided.

Care should be taken as some council homes have old undesirable constructions for example the 1930s Reemer Homes were constructed from steel and concrete slabs, however many lenders will not regard this as a good security for their loan. Also there are many homes that have still asbestos in them which again is not desirable to a lender or future buyer.

The following APR relates to the above products only.
THE OVERALL COST FOR COMPARISON IS :- 8.9% APR
The actual rate available will depend upon your circumstances ask for a personalised illustration.

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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

There may be a fee for broker advice, the precise amount of the fee will depend upon your circumstances. If a fee is charged it will be 2% of the loan amount payable on completion of the mortgage, subject to minimum £595. For example a £100,000 advance X 2% = £2000.
The Financial Services Authority does not regulate some aspects of commercial finance, personal finances, buy to let and overseas mortgages.

 
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Amicable Mortgage Services Ltd, 32 Twyford Avenue, Upper Shirley, Hampshire, UK, SO15 5NP, which is authorised and regulated by the Financial Services Authority.
Registered office 5 New Broadway, Hampton Road, Hampton Hill, Middlesex, TW12 1JG, registered in England No4470987

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