Adverse Credit & Problem Remortgages
from Shorething Mortgages
Buying your council house?
If you live in a council owned property, you could be entitled to purchase the premises at a lower price than the true market value, dependant on the length of time you have spent as a council tenant, in accordance with the Right To Buy scheme. You may be entitled to a Right To Buy Mortgage.
When applying for your mortgage, lenders consider numerous factors which may influence whether they lend you the money to purchase your council property. Such include age, employment status, loan to value ratio, amount required and credit history.
With a bad credit history, many mortgage brokers would refuse almost instantly. However, this is now not the case. There are a large number of lenders in the market who now offer specialised deals to those most-restricted by credit problems, and so, there is no need to worry if this sounds like your circumstance.
So, if you require a Right To Buy Mortgage, Shore Thing Mortgages can help you. By simply completing our online enquiry form, a mortgage lender will be in contact with you in a short time to discuss your circumstances further, and proceed with the application.
Remember, our service is completely free, and you can be assured of quality and privacy - all our lenders are regulated by the Financial Services Authority (FSA). You've got nothing to lose...why not enquire now?
Right To Buy Articles
The Right To Buy Scheme is a policy passed in the Housing Act of 1980 within the UK, giving tenants of council housing the ability to buy the home they live in. Local authorities have always had the power to sell housing to their tenants, but this was, up until the late 1970s, very unpopular. Margaret Thatcher (former Prime Minister) and Horace Cutler (Chair of Housing, Greater London Council) combined forces to put the scheme into practice, and this proved very successful. In 1997, the discount available to council housing tenants was reduced and by 2005, the rules relating to the Right To Buy scheme had changed... [learn more >>>]
Right To Buy News
Council tenants denied Right To Buy
In the areas of Elgin, Lossiemouth and other small towns and villages, tenants are being denied their Right To Buy in order for their councils to protect the reducing housing stocks. The council is a number of local authorities within Scotland which have successfully applied to the Scottish Executive to have part of its area recognised as 'pressured' in terms of the Housing Act 2001. The suspension of the Right To Buy Act within these areas is to last a period of 5 years, and applies only to tenancies which began on or after 30 September 2002... [learn more >>>]
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR REMORTGAGE.
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