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The Right to Buy Scheme allows council house or housing association tenants in England to buy their council property partially discounted. The discount applied used under the Right to Buy Scheme can vary depending on a few different factors, with location being one.
It may also depend on how long you have stayed living in the property, the type of property you are looking to buy and the property value.
To fit the criteria of the Government’s Right to Buy Scheme, you need to have at least been renting from your local authority for at least 3 years (this doesn’t always have to be consecutive).
When purchasing a property under the Right to Buy Scheme, the property gets valued at full market price with the government discount applied before making any purchases.
These years do not have to be consecutive, though this will vary depending on your situation. By speaking to a mortgage advice in Leicester, they can help check if you are eligible for a mortgage. Alternately, to keep yourself updated with the rules and regulations, you can also check out the government Own Your Home website.
First, you need to know if you are eligible for the scheme and request an application form from the council. Next, you will get an offer notice which shows you the property value and your discount. You then have a set period to accept this offer.
One of the significant advantages of the Right to Buy Scheme is that there is often existing equity in the house because you are utilising an applied discount.
As previously stated, how much equity will also depend on various factors. These include how much your discount is and how much the property you are looking to buy is worth.
Remortgaging for home improvements, such as an extension, new windows or conservatory, may also be doable with some of the mortgage lenders we have on our panel
The Right to Buy scheme, originally introduced in the 1980s, remains accessible to homebuyers; however, it has undergone various changes and may not be available in all areas.
Hence, it is vital to ensure your eligibility in your local authority area before considering a Right to Buy mortgage in Leicester.
As a mortgage broker in Leicester, we can provide expert advice throughout the Right to Buy process, helping you meet the scheme’s requirements and enhancing your chances of obtaining lender approval.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £495.
To determine the amount you can borrow for a Right to Buy mortgage in Leicester, your income, expenditure, and overall affordability will be evaluated. Additionally, your credit score will be assessed, underscoring the importance of reviewing and improving it before applying for the mortgage.
While many lenders accept the discount as a deposit, some might require additional funds from you. Engaging with a Mortgage Advisor in Leicester can help identify a suitable mortgage that aligns with your financial situation.
The local authority follows specific criteria to calculate the discount, considering factors like your duration as a public sector tenant, your location, the property type you aim to purchase, and its value.
Some lenders on our panel may even permit borrowing extra funds for home improvements like windows, doors, or conservatories, but gaining permission from your local authority will be necessary.
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Anonymous
Very professional. Kept me informed every step of the way. Explained the mortgage application process fully. Found me another lender immediately, after my first application got rejected.
2 months ago
Anonymous
I found Moneyman to be very professional and easy to work with. They explained everything clearly, kept me informed throughout the process, and were always easy to contact. I especially appreciated the personal touch of having a video call, which...
6 months ago
Anonymous
Great and knowledgeable advisor, Leo has been helping every step of the way and was able to answer lots of questions and provide lots of advise. Highly recommend using Leicestermoneyman
6 months ago
Emma
Beyond happy with our experience with moneyman. Quick responses, helpful and friendly. Definitely went above and beyond our expectations. Wouldn’t trust anyone else. Thank-you!
7 months ago
Neil
Highly recommend Leo Shakespeare! Leo has been very helpful, approachable and informative - we will be recommending him to others who are buying a home.
7 months ago
Elizabeth
I approached moneyman with an urgent problem of remortgaging my property within a deadline of 2 months or I loose my property .I was professionally welcomed by Paula and her 2 other colleagues who gave me advice and options of what I can do ....
10 months ago
Simon
Brilliant service thank you for all your help
1 year ago
Dawid
Excellent
1 year ago
Grant
Very fast friendy service, any questions were answered throughly and quickly and the whole service from start to finish was smooth and stress free.
1 year ago
Lucy
Excellent service from start to finish! Chris kept us fully informed and answered all of our questions throughout. He took the pressure off us and was professional throughout! Highly recommend!!
1 year ago
Rebekah
Jo and Chris were extremely helpful. Got everything done so quickly!
1 year ago
Joanne
It was smooth, took all the stress of reseaching the best mortgage. Easy access to appointments. TOM was great and understanding
2 years ago
Bhaven
Very very good thank you
2 years ago
Zubair
Charlie was very easy to talk too and made things easy and simple to understand and explained our options in detail which really helped us through the process as first time buyers.
2 years ago
James
Jason and his colleagues at UK Moneyman have been amazing from the start. When we began the process of house buying and finding a mortgage we knew very little, but Jason explained much to us in a telephone consultation and outlined all our options....
2 weeks ago
Samantha
Very impressed, service was really good and efficient and anything g that needed explaining was done very clear. Would definitely recommend
2 weeks ago
Shelline
Leo Shakespeare and Stacey Jopling has work long side each other to made this entire journey extremely smooth and informative as a first time buyer. His service has been phenomenal. I had been rejected from many other brokers and banks and he...
3 months ago
Nafesa
I have been dealing with Wendy and Malcolm in regards to my house purchase and I could not recommend these enough. A true credit to the company. Very efficient with communication and solving any issues that needed to be addressed. Would highly...
5 months ago
Anonymous
Incredibly helpful, supported throughout whole process
5 months ago
Nazeef
Fantastic experience. Charlie helped me race through to secure the most suitable mortgage offer, best plan for life and critical illness insurance. Very approachable and responsive even with any queries I had after everything was completed.
6 months ago
Firstly you need to see if you qualify for this Scheme, request an application form from the local authority.
Once you hear back, they will notify you of the property purchase price and the discount to be applied. If you are undecided, you have a set amount of time to decide and accept their offer.
Here we can help you find a suitable mortgage, advising on property surveys and solicitors when pertinent. As part of your initial free initial mortgage appointment, we’ll be able to help you work out your mortgage costs and find you the most suitable mortgage deal.
As soon as our team have found you an appropriate deal, you will be able to apply to your local authority stating that you would like to purchase the property, then it’s time to process your full mortgage application.
From the first time you get in touch with us, all the way through to completing your mortgage, our team of administrators and Mortgage Advisors in Leicester will be with you every step of your mortgage journey, ready to answer any questions, queries and concerns.
Unlike speaking to a bank or building society mortgage advisor, the perks of using a Mortgage Broker in Leicester by your side has the ability to search through 1000’s of mortgage deals on your behalf, working around the clock to find you the most suitable deal that is available, based on your personal and financial circumstances.
We can also assist when dealing with conveyancing solicitors, helping you decide on which survey would be the most suitable option to go forward with. If you require any other additional help, please do not hesitate to ask your Mortgage Advisor in Leicester will do their best to see if there’s anything we can do to help you.
Our team will provide you with open and honest Mortgage Advice in Leicester. The Right to Buy process isn’t always easy, and we will aim to help you over any hurdles you face. We aim to take away your stress, making you feel relaxed and excited for the eventual outcome.
Feel free to take a look at our genuine customer reviews. They are a true and honest reflection of the level of service we always aim to provide our customers here at Leicestermoneyman.
To speak with a mortgage broker in Leicester, book your free initial mortgage appointment. We have appointments available in the evenings and weekends. Whichever time slot fits in with your work schedule, family schedule or anything else, we will have someone ready to speak to you as soon as they possibly can. (subject to availability).
With over 20 years of experience working in the industry, our Mortgage Advisors in Leicester have helped many customers currently renting from their local council or housing association looking to get onto the property ladder via the Right to Buy Scheme.
They can do this by using the Right to Buy Scheme, which the UK government brought to get more people onto the property ladder. Here we have listed a step by step Right to Buy Scheme process that you will need to take before getting in touch with us to help you with the mortgage aspects.
Before we can help you, you need to make sure to contact either the council or housing association, whoever owns your property, we sometimes refer to them as the “local authority”. The reason for doing this is that they will see whether you are eligible to qualify for the Right to Buy Scheme. They will be able to see if you match up with their criteria.
Once you know that you are eligible for the Scheme, the local authority will offer a property purchase price. You will have a set time frame to accept their offer.
The exciting part gets underway if you agree to purchase your home from the local authority at their desired price. All that’s next is to get in touch to speak with one of our Mortgage Advisors in Leicester, and they will be more than happy to help get you started on your mortgage application.
If you have thoughts about purchasing the property you are currently renting from the local authority, make sure you are eligible first and check the property discount.
Once you have worked out what you will be able to buy property for, your next step will be to speak with one of our Mortgage Advisors in Leicester, who can match you up against lending criteria to obtain the most suitable mortgage for your circumstances.
During your process, our advisors will want to gather some critical information on the amount of money you make and your spending habits to determine whether or not you can keep up with your mortgage payments.
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Leicestermoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Leicestermoneyman 2025.
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Leicestermoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Leicestermoneyman 2025.
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