Mortgages In Carlisle Cumbria uk Save Money On

Why rent when you can buy ???

Do you want to buy your council or housing association house?

We can help with the purchase without the need for a deposit.

Contact us now

FREE 0800 093 2621X
PRIVACY STATEMENT

Unlike many other brokers our broker fees are the same for ALL customers and we do not charge more if you have had financial dificulties in the past.

Right to Buy Information

If you are a “secure Tenant” of a local authority or a housing association (not an “assured Tenant”) in England or Wales you may have the right to buy if you have been a tenant for the qualifying period.

The best place to start is to talk to your Housing Association first to see if you qualify and how much discount you are entitled to. Then speak to us if you want a mortgage.

The following is a summary of changes that apply to all applications submitted from 18th January 2005 onwards:

the initial qualification period was extended from 2 years to 5 years for new tenants
the discount repayment period was extended from 3 years to 5 years
the amount of discount to be repaid if a property is resold within 5 years is now a percentage of the market value of the property when it is resold - disregarding the value of any improvements you have made

Right to Buy Process

The following are the main points of the right to buy (RTB) process:

A Save Money On information pack will be sent to you
Request your Right to buy (RTB1) form from your council or housing association
Complete and send the form back to your council
Council sends acknowledgement receipt: RTB2
Council Valuer calls on Tenant at home to make a valuation Tenant receives Home Valuation from Council: Section 125
Tenant supplys details of the Section 125 to Save Money On and we will search for the most suitable mortgage for you given your individual circumstances, we will then provide you with a personal illustration and budget planner with you to see if you would be comfortable with the repayments on your mortgage and other related costs.
Agreement in principal issued by lender
Arrange solicitors ( we can do this on your behalf or you can arrange your own )
Lender will instruct Valuation
Mortgage offer confirmed
Legal paperwork is completed/ Completion arranged.

Then you own your own home and you are responsible for its maintenace.

The overall cost for comparison is 8..1% APR. The actual rate will depend on your circumstances. Ask for a personalised illustration.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

The guidance and/or advice contained within this web site is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK

Buy to Let Mortgages, Unsecured Loans, Conveyancing and Wills are not regulated by the Financial Services Authority.