Right to Buy Mortgages

Features and Benefits of Right to Buy Mortgages

• Up to 100% of purchase price to employed or self employed meeting status criteria
• Up to 90% when self employed "self certify" their own incomes
• Standard competitive mortgage terms

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The Right to Buy Scheme has been with us for many years and confers upon Council Tenants an opportunity to get their feet on the ladder of home ownership, in many cases without any cash investment of their own. Although not such an active market as in the past, opportunities still arise for ACL to assist clients take advantage of this scheme.

The scheme allows Council Tenants to purchase the property they occupy from their local Council to whom they have been paying rent. The benefit to the Tenant is that the property, which will be either an apartment or house, can be purchased at a concessionary price normally substantially less than its real open market value.  Provided that the property is retained for a period of three years after purchase there is no obligation to repay any part of the discount.

ACL can arrange funding up to 100% of the discounted purchase price so that the client only needs to find sufficient money to pay the Stamp Duty (if applicable), legal fees, lender's valuation and arrangement fees.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Mortgage Protection Insurance provides cover against unforeseen eventualities that could affect your ability to maintain repayments on your mortgage such as death, illness, accident or unemployment.