For most first-time buyers, the most difficult and daunting part of the process is arranging a mortgage. This can be particularly true for those who are also struggling with a poor credit history, or perhaps limited income.
Considering both eligibility and affordability before applying for a mortgage is essential. This means establishing a realistic budget, using an online mortgage calculator to get an idea of what’s on offer and consulting with an independent broker.
There are few instances in which it is advisable to take your case directly to a lender. By applying through an established broker, your requirements can be matched with your ideal mortgage from dozens of competing providers. In addition, a broker can provide all the advice and support you need on the additional one-off costs that accompany mortgage loans.
Prior to submitting or finalising a Right to Buy mortgage application, it’s important to consider the following:
Consulting with an independent specialist is the most effective way of addressing all of the above considerations and more. Rather than going it alone, it pays to have a professional support behind you, throughout the mortgage application process.
For more information or to discuss your requirements in more detail, contact a member of the team at UK Property Finance today.
There is an eligibility quiz on the official government Right to Buy portal. Check that out and answer a few simple questions to determine whether you may be eligible for an enormous discount on your home’s current market value.
Housing Association Tenants - Recent changes have affected eligibility for the Right to Buy scheme for occupants of housing association properties. Find out more and determine how much you could save by purchasing your home through Right to Buy.
UK Property Finance has extensive experience and expertise in all aspects of Right to Buy applications for council and housing association tenants alike.