What is a Right to Buy in Cardiff?
The Right to Buy Scheme is a government ran scheme that allows home renters who are eligible across England to purchase their property from their local authority (typically the local council or housing association) for a fraction of the value. The amount of discount depends on the length of time that you’ve been renting your property for.
If you have been a local authority property renter for at least 3 years (this doesn’t necessarily have to be consecutive), you could be eligible for using the government Right to Buy Scheme as a means of getting onto the property ladder.
When you are looking at your options for purchasing your home utilising a Right to Buy in Cardiff, your home will be valued at the full market price, with your discount from the government applied to that purchase price.
Purchase Your Council House Under a Right to Buy in Cardiff
As open & honest mortgage advisors in Cardiff, we always work hard to help those who contact us. Making use of over two decades of both knowledge and experience within the world of mortgages, we aim to provide top quality Right to Buy Mortgage Advice in Cardiff.
Generally speaking, we find that because the renter will be receiving a sizable discount on their home purchase, they often won’t require a deposit. This isn’t always the case, though it has been something that we have come across in the past.
The homebuyers discount that is applied will be determined due to various factors, such as how long you have been renting within the public sector, the type of property that you are looking to purchase, and how much the property is actually worth.
If you have used a Right to Buy in Cardiff at some point previously, the discount that is applied to the purchase price may be lower than it otherwise would’ve been. You may also have other potential options available to you, as a means of making the necessary funds for home improvements.
How does the process of a Right to Buy in Cardiff work?
First of all, in order to access a Right to Buy in Cardiff, you will need to find out if you are eligible and to request an application form for the scheme from the local authority. Once they have received this from you, they will let you know what the purchase price is and how much discount will be applied. You will have a limited amount of time in which you can accept their offer.
Our dedicated team will be here to help you all throughout your mortgage and beyond, advising on solicitors and property surveys when is appropriate to do so. As part of your initial free initial mortgage appointment with one of our mortgage advisors in Cardiff, we’ll be able to help you figure out what the costs are and which products are best for you.
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