The UK government’s Right to Buy scheme has long been a lifeline for tenants dreaming of homeownership. It offers a unique opportunity to purchase your council or housing association property at a discounted price. For many, the biggest hurdle in buying a home is saving for a deposit. However, a Right to Buy mortgage with no deposit might be the solution you’re looking for.
In this article, we’ll explore how Right to Buy works, how to secure a mortgage without a deposit, and the key factors to consider.
The Right to Buy scheme allows eligible council and housing association tenants in England to buy their homes at a significant discount.
Speak to a specialist today!
Contact us nowYes, it’s possible to get a Right to Buy mortgage without a deposit. Here’s how it works:
To qualify, you must meet the following criteria:
Submit the form to your landlord to receive an offer notice outlining the sale price and discount.
Not all lenders offer Right to Buy mortgages, especially those that accept the discount as a deposit. Work with a mortgage broker experienced in Right to Buy to identify suitable options.
Even if you don’t need a deposit, lenders will assess your financial situation, including income, expenses, and credit history.
With the help of your broker, submit the necessary paperwork and await approval.
If you’re ready to start your journey, contact a Right to Buy mortgage expert today. They can guide you through the process and help you find the best no-deposit deal for your situation.
Yes, but if you sell within five years, you may need to repay some or all of the discount.
If your landlord rejects your Right to Buy application, you can appeal to the Residential Property Tribunal.
If no-deposit mortgages aren’t an option, consider saving for a small deposit or exploring shared ownership schemes.
We are a hybrid mortgage broker and protection adviser. However, we want to make it clear that we do not have physical branch offices everywhere in the UK. You can get our services over the phone, online, and face-to-face in some circumstances.
Please keep in mind that while we may not be local to you, we may still assist you. Imagine if you had a long-term health issue that needed to be addressed. Would you rather have the person who is closest to you or the person who is the best? Now is the moment to put that critical thinking to work in your search.
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Count Ready Limited is registered in England and Wales, No: 10283205. Registered Address: Unit 10, Robjohns House, Navigation Road, Chelmsford, England, CM2 6ND.
Count Ready Limited is an Appointed Representative of Connect IFA Limited 441505 which is Authorised and Regulated by the Financial Conduct Authority and is entered on the Financial Services Register (https://register.fca.org.uk/s/) under reference: 976111.
The FCA do not regulate some forms of Business Buy to Let Mortgages and Commercial Mortgages to Limited Companies.
The information contained within this website is subject on the UK regulatory regime and is therefore targeted at consumers based in the UK.
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Commission disclosure: We are a credit broker and not a lender. We have access to an extensive range of lenders. Once we have assessed your needs, we will recommend a lender(s) that provides suitable products to meet your personal circumstances and requirements, though you are not obliged to take our advice or recommendation. Whichever lender we introduce you to, we will typically receive commission from them after completion of the transaction. The amount of commission we receive will normally be a fixed percentage of the amount you borrow from the lender. Commission paid to us may vary in amount depending on the lender and product. The lenders we work with pay commission at different rates. However, the amount of commission that we receive from a lender does not have an effect on the amount that you pay to that lender under your credit agreement.
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