Right to Buy – Housing Association
Take the first step towards buying your housing association property.
Perhaps you imagine that purchasing your property will be a hassle, time consuming, give you a financial headache or involve a house move and all the stress that comes with it. However if you have been residing in a housing association property then the opportunity for home ownership could be closer than you think by exercising your right to buy even though you are renting a housing association property rather than a council owned property.
Most housing association tenants wrongly believe they are unable to buy their property because they are illegible to use the popular “right to buy” scheme. However, what a few know is that there is a parallel scheme for housing association tenants called “right to acquire”. This is essentially designed to enable housing association tenants to buy their property in a similar way that council tenants can.
Ascot Mortgages are highly experienced mortgages brokers who deal with a great number of right to acquire customers. We ensure our customers get the best deal on their right to acquire mortgage and also ensure it is set up quickly without any hassle. We also can help you will all the paper work which needs to be done in relation to your discount application.
The right to buy scheme was initially designed for people in council properties and, as far back as 1980, people have benefited from purchasing their homes at a discounted rate without having to uproot to a new property. This scheme is now also applicable to housing association tenants, meaning that they too can take advantage of the benefits of the right to buy scheme. Although tenants need to have been public sector tenants for at least five years, those who rent from the housing association, or whose properties have been transferred from council to housing association ownership, still qualify for the right to buy scheme. Moreover, the right to buy scheme for housing association tenants rewards loyalty, meaning that it aims to keep communities together and ensure stability.
Whilst the property discount is set at 35 percent of the property value for houses, it increases by 1 percent for each year over the qualifying period of five years, up to a maximum of 60 percent of the value property. For flats, this is a maximum 50 percent and then increases by 2 percent, up to a maximum of 70 percent of the value. On top of this, in March 2012, the Prime Minister announced plans to extend these discounts further, making the option of purchasing your home even more attractive. With such substantial discounts available, a quick call to Ascot Mortgages means that you could join the 2 million people who have already taken advantage of the right to buy scheme for housing association tenants! Read more about the information specifically for people living in London please read Right to Buy and Right to Acquire London.
Whilst arranging a mortgage might seem an insurmountable challenge, it needn’t be. Ascot Mortgages are well placed market leaders and so are able to arrange you the best mortgage at the best price. Utilising their contacts in the industry they are able to arrange your mortgage rapidly and with the minimum amount of hassle for you. Offering a free, no obligation initial consultation, Ascot Mortgages can help you set foot on the mortgage ladder, meaning that you can benefit from the right to buy scheme, all without having to wonder how you are going to move your possessions!
The chance to own a property is on that, in today’s economic climate, is often believed to be out of reach. However, with the discounts available and the expertise of Ascot Mortgages, the chance to get on the property ladder without so much as packing a box or lifting a piece of furniture is a realistic possibility and opportunity.
Whilst getting a mortgage, perhaps the first one you have had, is often a nerve-wracking experience, it needn’t be. Ascot Mortgages are highly experienced mortgage brokers and we can take the hassle out of arranging a mortgage, using their position and reputation in the market to maximise the cost effectiveness and efficiency, meaning that you could be on the path to home ownership with just one phone call!
Other types of mortgages which may be suitable:
Ascot Mortgages are highly experienced UK mortgage brokers, we have access to the whole of the market to source and secure the best mortgage deals for our clients. If a right to acquire mortgage are not suitable for you, or would like to look at other mortgage products please ask us about our other popular mortgages, such as 90% LTV mortgages, and our specialist mortgages for first time buyers. Please contact us for a free consultation and free mortgage match, and Ascot Mortgages can search for the best mortgage deals for you to make sure you get the cheapest and most suitable mortgage.