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Right to Buy Mortgages in Cambridge

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Right to Buy Mortgages in Cambridge

Transition from tenant to homeowner in Cambridge with Right to Buy. Speak to mortgage expert today to discuss your right to buy options.

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Buy Your Council House Under Right to Buy in Cambridge

The Right to Buy Scheme was brought in by the government to allow eligible tenants in the UK to purchase their council house for a discounted price.

If you wanted to see whether or not you qualify for a Right to Buy in Cambridge, visit your council’s website and give them a call and they should tell you what the entry requirements are. Once you find out if you are able to access the scheme, it’s time to get the ball rolling and begin the process of a Right to Buy in Cambridge!

Usually, you don’t need to put down a deposit for your council home due to the large amount of equity that has been built up inside the property. Meaning, for some tenants, this can be a great way of getting onto the property ladder. The amount of equity that is inside the house depends on how much your discount is and the value of the property.

Depending on your lender, you may be able to borrow additional funds to use for home improvements. This could be an option worth considering, especially if you have already saved money by not needing a deposit as it could balance out in the future. When we say home improvements, we mean anything ranging from new double glazed windows to extensions or conversions. A mortgage advisor in Cambridge can advise you on these accordingly.

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Right to Buy Mortgages in Cambridge

How is the Discount Worked Out?

The discount percentage is worked out using a variety of different factors such as where you live in the country, how long you’ve been a council tenant/long you’ve lived within the country.

From our experience in working with mortgages for a Right to Buy in Cambridge, the applicant is normally a First Time Buyer. Whether you are a First Time Buyer or not, we know that the mortgage process can often come with some difficulties and stress, and that’s exactly why we want to help you!

Your mortgage advisor in Cambridge will be right by your side from your initial enquiry, all the way through to the completion of your mortgage for a Right to Buy in Cambridge.

Do I need a deposit for a Right to Buy mortgage in Cambridge?

Most mortgage lenders will accept the discount applied to your Right to Buy in Cambridge as your deposit. Although, some lenders may also ask for an extra contribution towards your deposit to give it a small boost.

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Common FAQs for a Right to Buy Mortgage in Cambridge

Does Right to Buy in Cambridge still exist?

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If you are looking to take out a Right to Buy mortgage in Cambridge, providing that you are eligible for the scheme, you will need to approach your local authority to start your process.

Once you have done this and filled out a few documents, you will need a mortgage for your Right to Buy property. Our Right to Buy mortgage advisors in Cambridge would love to help you through this part of the process.

How much can I borrow for a Right to Buy mortgage in Cambridge?

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The amount you can borrow for a Right to Buy mortgage in Cambridge depends on several factors, including your income, expenses, credit score, and the value of the property you want to buy. Lenders use this information to determine how much you can afford to repay each month and how much they are willing to lend you. It’s best to speak with a mortgage advisor or lender directly to get a more accurate estimate of how much you can borrow for a Right to Buy mortgage in Cambridge.

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Our Simple Mortgage Process

Confirm Your Right to Buy Eligibility

Step 1

You will need to check with your local authority as to whether you qualify for a Right to Buy mortgage.

Once you reach out to them, they will be able to confirm your eligibility.

Submit Your Right to Buy Application

Step 2

If you qualify for Right to Buy, you can begin to prepare your application.

Once you have sent it off, all that is left to do is wait for your offer.

Start Your Application

Step 3

Once you've had your offer received, you can begin your mortgage process.

You can do this by booking a free mortgage appointment in Cambridge. We have Right to Buy mortgage advisors readily available, 7 days a week.

Formal Approval

Step 4

Once we find you the perfect mortgage for your Right to Buy property, we can submit your mortgage application. Now the last step is to wait for your approval.

Once approved, you're all set! We will be back in touch when your mortgage is due for renewal to make sure that you are on the best deal available to you.

Reasons to Choose Us

Free Mortgage Appointment

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As a mortgage broker in Cambridge that prioritises its efforts on providing customers with high levels of mortgage advice, we will always work hard to help our customers in finding mortgage success. This service extends to helping those who are looking to use a Right to Buy in Cambridge.

Experience & Knowledge

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Your knowledgeable and experienced mortgage advisor in Cambridge will be there to guide you through the process, from your first time getting in touch, right the way through until your mortgage completes. They will always be there to answer any mortgage queries you have along the way.

We Can Search 1000s of Deals

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Unlike the types of mortgage advisors you would encounter at a bank or building society, our trusted mortgage experts in Cambridge are here to search through 1000s of mortgage deals for you, finding one that is best for your circumstances.

Open & Honest

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We also have the ability to help you sort out conveyancing solicitors, providing advice on which may be the best survey for you to take. If you need help with anything at all regarding your mortgage process, please get in touch with your dedicated mortgage advisor in Cambridge or mortgage administrator. They'll do what they can to help you out.

Our Service

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Our brilliant mortgage advice team will always be available to help customers with their Right to Buy in Cambridge, every day of the week! The process of obtaining a mortgage for a Right to Buy in Cambridge can often leave some customers with challenges. Worry not, we will work hard to reduce your stress and help you overcome any hurdles you face along the way.

7 Days a Week

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Mortgage advice in Cambridge is available from am until pm, 7 days a week and even on weekends. No matter what type of schedule you have, there will be a mortgage advisor in Cambridge ready to take your call, subject to appointment availability.

Feel free to take a look at our genuine customer reviews. They are a true reflection of how hard we work to help our customers, and we're very proud of our success rate in helping customers to obtain a Right to Buy in Cambridge.

Malcolm and Amy Davidson - Mortgage Advice in Cambridge

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Common Right to Buy Mortgage Scenarios

Checking Eligibility

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During our time as a mortgage broker in Cambridge, we have helped lots of housing association or council home renters to buy the home they are currently renting, taking a step onto the property ladder.

They were able to take this step by using a Right to Buy in Cambridge, a scheme which was brought into the mortgage world by the government. Below we have put together a list of the steps you need to take in order to obtain a Right to Buy in Cambridge.

Purchase Price

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Once you are able to confirm that you are eligible for a Right to Buy in Cambridge, your local authority will be able to present to you the purchase price for the property in question. You will have only a set amount of time in which you can accept this offer.

Start Your Application

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You’ve agreed to their purchase price, now it’s on to the next and best step of your mortgage journey! Book yourself in for a free mortgage appointment and we’ll get you started on your mortgage process.

Useful Tips from a Mortgage Broker in Cambridge

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It’s important to make sure that you are definitely eligible for a Right to Buy in Cambridge and that you are aware of the purchase price, prior to looking into purchasing your rental property from the local authority.

Once you are aware of the properties purchase price, the next step that you’ll have to take, will be to speak with a trusted mortgage advisor for Mortgage Advice in Cambridge. Your mortgage advisor in Cambridge will be able to find you the most appropriate mortgage deal based on your circumstances, matching you up to the right criteria.

This mortgage appointment will include your mortgage advisor in Cambridge learning more about your income, your spending habits, in order to find out whether or not you have the affordability to take out a mortgage.

Mortgage Guides & Cambridgemoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.

UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

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