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We have much experience in right to buy and understand your needs and expectations.
Flats.
Some lenders do not lend on council built flats, but others may be able to assist.
Certain types of flat can be more problematic such as;
s Galleried landing access.
s High rise.
s Concrete.
Borrowing extra
Often applicants wish to borrow more than the purchase price, as this example shows;
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Normal value
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£150000
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RTB price
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£110000
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Mortgage
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£120000
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In this example an extra £10,000 is available for other purposes.
I’m in arrears with my rent?
Lenders will often want to see a history of rent being paid on time; however, we find very often applicants have small arrears due to the collection issues councils often impose that make paying on time difficult. Lenders tend to be sympathetic here.
My relative wants to help.
Some lenders can consider applicants other than the main tenants as long as the council agree to such a request.
I do not live in the property.
You may have temporarily let out the property, but a mortgage may still be available as long as you intend to move back in.
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