Right to Buy’ is a Government scheme that gives people who are renting homes in the public sector (either council housing or via a Housing Association) the ability to buy their home at a discounted price, lower than the prevailing market value. There are also similar schemes in Northern Ireland, Scotland and Wales, although the rules are slightly different.

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Right to Buy mortgage will help you purchase your council house or Housing Association property under the Government’s Right to Buy scheme. While there is no specific ‘Right to Buy mortgage’ product, mortgage advisers will always tailor their advice to suit your situation.

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As someone who is aiming to buy their council house home through the Right to Buy scheme, you will have access to the same range of mortgages as any other borrower, and will be assessed by lenders in exactly the same way as anyone else.

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The amount lenders will be willing to lend and the interest rate you will be charged will depend largely on the size of the deposit you are able to provide as well as other criteria such as your credit history and current income.

 

Maximum cash discounts are £16,000 to £38,000. The level of the maximum discount available depends on where you live. Applications for the Right to Buy received by social landlords before 21 November 2024 from eligible tenants will be eligible for the previous maximum discounts of £102,400 across England, or £136,400 in London boroughs.

Applications for the Right to Buy received by social landlords before 21 November 2024 from eligible tenants will be eligible for the current discounts.

 

If you are thinking of applying for your Right to Buy, you should get independent legal and financial advice about your individual circumstances, and to help with the legal process of buying a home. You may also want to get independent financial advice about the different types of mortgages that are available. This information is accurate as of 13/12/2024. 

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