No deposit required!

You may have been put off buying your local authority home because you believe you need a large deposit in order to get a mortgage. Well, here's the good news - you don't always need a deposit because in most cases your Right to Buy discount acts as your deposit!

Example: Geoff has lived in his 3-bedroomed semi-detached council home for 15 years. The council have valued Geoff's home at £115,000. Geoff is entitled to a 45% discount and so in order to buy the house from the council, he needs to borrow £63,250. Because the lender is only lending Geoff 55% of the value of house (this is known as Loan to Value), then a deposit is not required.

Find out what discount you're entitled to under the Right to Buy scheme on our Frequently Asked Questions page.

Contact us free today on 0800 083 0449 for a FREE financial healthcheck and to find out what kind of mortgage deals are available to suit your circumstances. Or fill our or contact form and we'll contact you.