Purchase
Ex-Council House
If
you rent a council house and have been living
there for more than two years you may be illegible
under the right to 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.
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