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Right To Buy Mortgage

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Unusual Properties
What happens if I have an unusual property?
What Is A Remortgage?
‘Remortgage’ is basically the term for switching your mortgage to another mortgage lender.
How Do I Switch Mortgages?
Switching mortgages (remortgaging) has been made very easy by the industry, in reaction to the fact that most people remortgage their homes on a regular basis i.e. every 5 years on average.
Information For 1st Time Mortgage Buyers
Your first mortgage will be the most significant financial undertaking of your life so far, but how exactly do you go about getting a mortgage?
What Are Buy To Let Mortgages?
A buy to let mortgage is an excellent opportunity to cash in on the property boom at the moment – because while many homeowners can afford a 2nd home, there’s also a booming market for those who cannot afford to get a mortgage, and need to rent. Find yourself a good location and reliable tenants and your monthly repayments on your mortgage will be covered by their rental yield.

What is ‘Right to Buy’?

If you have been a council tenant for two or more years you may have the opportunity to buy your council property, often at a discount proportional to the length of occupancy. The monthly payments of a mortgage to buy your council property may well be less than your monthly rent payments – so it’s well worth considering – and at the end of the term the property will belong to you.

Under ‘right to buy’ legislation, properties are not offered at a discounted rate, and not at the open market value. If you decide to resell the property within a three-year period, you may have to pay back some or all of the discount to your local authority.

You can use the opportunity when obtaining a mortgage for a ‘right to buy’ property to get additional capital for home improvements or debt consolidation.



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