Do You Qualify for a Right to Buy Mortgage?

A right to buy mortgage is a type of mortgage that is commonly used in the United Kingdom. Here are the basics of the right to buy a mortgage and whether you can qualify for one.

Right to Buy Mortgage

This is a type of mortgage that is used in order to purchase council properties. Council properties are a type of social housing in the United Kingdom and Ireland. If you are a tenant of one of these properties and you decide to buy the property, you are going to be able to do so with a right to buy mortgage. When you get this type of mortgage, you are going to be able to buy the property at a discount from what the house is selling for in the market.

Qualifications

In order to qualify for a right to buy mortgage, you are going to have to meet certain requirements. First of all, you have to be a tenant in one of these council properties. On top of that, you are also going to have to meet certain credit requirements and have a certain amount of money for the down payment on the property.

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