Council Right to Buy UKTHE MOST VISITED RIGHT TO BUY SITE ON THE INTERNET!
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| Council right to buy home page | 50+ pages of council right to buy information | Council right to buy questions and answers | Council right to buy mortgage calculator |
COUNCIL RIGHT TO BUY: Your Right to Buy your homeCouncil Right to Buy: The costs of buyingBuying your home is a major financial commitment. Apart from paying for it (upfront in cash or with a loan), you will then have to maintain it. As explained above, if you buy a flat on a long lease, you will also have to pay service charges.Unless you are going to buy your home with cash, you will need a mortgage (i.e. a particular kind of loan). There are various kinds of mortgage which your bank or building society can tell you about. An independent adviser may also be able to help. See the free Financial Services Authority (FSA) guide to mortgages for information on the different types of mortgage available - call the FSA Consumer Helpline on 0845 606 1234. You will have to repay the mortgage, plus interest, by instalments (usually, monthly ones). Normally, mortgages have to be repaid over a period of 25 years, but the period can be shorter. Flexible mortgages are available which allow you to vary your payments (subject to rules set by the lender). The lender may not be prepared to lend you the full amount that you need to purchase your home. If so, you will have to pay the rest from your savings. If you sell your home later, you can use the money from that sale to pay off the rest of your mortgage. But remember that the value of homes can go down as well as up and in some cases people find themselves in 'negative equity'. This is when the mortgage on your home is larger than the amount for which you are able to sell it.
© Crown Copyright (Correct at time of writing January 2005. Please check with your financial services provider for any changes.) Council Right to Buy Mortgage SearchAre you looking for a competitive council right to buy mortgage?Council Right to Buy UK will put you in touch with a broker who's aim is to help you find a range of mortgages and competitive interest rates which will help you decide on the most appropriate mortgage available. Bad credit? If you have CCJs, defaults, mortgage or rent arrears - we have access to specialist brokers to help you! Enquire about a council right to buy mortgage now. Please complete the quick, private NO OBLIGATION form below.
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