Understanding Right to Acquire mortgages

Purchase your housing association home with a “Right to Acquire” mortgage

We are experts in arranging mortgages for clients, including customers who are wanting to buy their housing association property with the right to acquire schemes. As knowledgeable mortgage brokers we are the best company to assist you in organising your right to acquire mortgage. Offering a complimentary, no commitment, preliminary assessment, we are able to match you up with the best mortgage offered to ensure you get the least expensive mortgage to suit your requirements.

Right to acquire – the basics

The right to acquire scheme is for lessees in England and Wales and enables individuals to buy their housing association homes. This means that you can get on the property ladder without needing to leave the home that you love. Moreover we can organise your mortgage quickly and cost efficiently, to ensure that you can profit from owning your own home without the trouble of moving!

Right to acquire price cuts

Not only are you able to get on the property ladder without even moving a piece of furniture, you can likewise take advantage of a considerable discount off the properties market value. This discount can be anything from ₤9,000-₤16,000, or up to HALF of the property cost, depending upon the value of the property. Although there could be some excluding elements, for example if you have actually been bankrupt or if the property is sheltered housing for the over 60s, the chance to purchase your property at a reduced rate is a great chance. In addition you can acquire the house collectively or with approximately three certifying adults, so long as they have lived in the home for at least twelve months, meaning that home ownership is more easily accessible and affordable.

Right to acquire mortgages

Under the right to acquire scheme, if you started your occupancy after the 18th January 2005 you have to have actually resided in the home for over five years to be qualified. Nevertheless, if you began your occupancy before this date then you have to have lived in the property for a minimum of two years. In addition the property ought to have either been purchased or obtained by the housing association after the 1st April 1997. Your housing association has to tell you if you are eligible for the right to acquire scheme within 8-12 weeks of applying and if you meet the criteria, organizing a mortgage is the only action between you and home ownership. We can do all this for you.

Getting on the property ladder is a terrific chance, specifically in today’s challenging financial climate. Some people envisage that they would not have the ability to own their property due to the fact that it is not for sale or due to the fact that they think that financial resources would not enable it. Even if your property is in an area where home costs are high, you might still have the ability to get your London home or flat making use of Right to Purchase. However, the right to acquire scheme offers the chance for you to buy the home that you have no doubt currently invested a bunch of money in, with a significant discount by using us – all with the minimum headache. Whilst getting a mortgage, possibly the first one you have had, is commonly a nerve-wracking experience, it needn’t be. We are highly skilled mortgage brokers and we can take the inconvenience from organising a mortgage, utilising our position and credibility in the market to make the most of the market, meaning that you could be on the path to home ownership with just one phone call! Give us a call or email to see how we can help you.

Other types of mortgages which may be appropriate:

We are highly experienced UK mortgage brokers, we have access to the entire marketplace to source and locate the best mortgage deals for our clients. If a right to acquire mortgage is not ideal for you, or you wish to look at various other mortgage items please ask us about our various other popular mortgages, such as 70% LTV Remortgages, and our specialist mortgages for First Time Purchasers. Please contact us for a cost-free appointment and free mortgage advice, and we can look for the best mortgage deals for you to ensure you get the most affordable and most suitable mortgage.

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