Can I Get a Right to Buy Mortgage with Bad Credit?
If you’re a council tenant in England you may be considering the government’s Right to Buy scheme, but if you’re a council tenant with a poor credit history you might think that it’s beyond your reach. You’re probably wrong.
Simply Adverse are experts in supporting applicants with bad credit to find a mortgage, and that extends to anyone thinking about Right to Buy with poor credit. If you think you may be eligible for the Right to Buy scheme, but are concerned that your adverse credit will hold you back, then talking to our specialist bad credit mortgage brokers could be the answer.
Contact Simply Adverse to find out more about how you can get a Right to Buy mortgage with poor credit.
Why Pick Simply Adverse as Your Right to Buy Mortgage Broker?
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We are specialist adverse credit mortgage brokers, which gives us the experience to help applicants who have had problems with credit in the past. |
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Simply Adverse brokers also understand the Right to Buy mortgage market, and how a history of bad credit impacts on buyers. This specialist yet wide ranging knowledge makes us the best option for anyone considering looking for a bad credit Right to Buy mortgage. |
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Whatever your circumstances, Simply Adverse will provide you with a personal service that seeks to find you the best mortgages for anyone looking at Right to Buy with a poor credit rating. |
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Our close relationships with a variety of lenders, including Right to Buy mortgage lenders, mean that our professional brokers are always ahead of the game when it comes to finding deals. You also get the benefit of our team of pre-underwriters and case managers, who work with our brokers on your behalf. |
If you’ve been worried whether you’ll find a mortgage for Right to Buy with bad credit, call Simply Adverse. There are no upfront fees, so there’s nothing to lose.
Call 01245 330163 For A Free Quote
Lines Open: Mon-Fri 9am-10pm and Sat/Sun 9am-5pm. Alternatively request a call back at a time convenient to you.
It’s quick & easy. No credit check.
What is Right to Buy?
Right to Buy is a government scheme designed to give eligible public sector tenants in England the opportunity to buy their home at a discounted price. The size of the discount depends on how long you have been a tenant.
Who is Eligible for the Government’s Right to Buy Scheme?
You may be eligible to buy your home under Right to Buy if you fulfil the following criteria:
- You are a council tenant OR you were a council tenant when your home was transferred to your current public sector landlord
- You have been a public sector tenant for a minimum of 3 years
- The property is your only or main home
- You don’t share the property with anyone besides members of your household
- You are not a tenant in sheltered accommodation (Either for elderly or disabled people)
- Your home is not scheduled to be demolished
If you have rent arrears within the past 12 months, you are unlikely to be considered for the scheme
Why will having a poor credit record make it difficult for me to get a Right to Buy mortgage?
Lenders use the credit histories of mortgage applicants to assess whether or not they present a high risk.
Essentially, they want to make sure that you repay your mortgage loan. A history of events such as missed payments, loan defaults or CCJs, may show that you may find it hard to meet your financial obligations in the future. However, the picture is more complex than simply saying ‘if you have a low credit score you won’t get a mortgage’. Lenders look at many factors and your credit history is just part of the picture. At Simply Adverse we understand how your credit report could negatively impact your mortgage application, but we also know how to maximise your chances of a successful application.
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Can I still get a mortgage if my Right to Buy property is in a high-rise building?
Flats in high-rise buildings aren’t specifically excluded from the Right to Buy scheme. However, some mortgage lenders may have their own limits on the type of property they will lend for. Your mortgage broker will ensure that you apply to the appropriate lender for your property.
Can I let out my RTB property after I buy it?
Once you buy your Right to Buy property there are no restrictions on whether or not you can rent it out. If you intend to let it out immediately after purchase, you will need a specific buy-to-let mortgage. This type of mortgage has different criteria to standard mortgages and you may find it more difficult to secure one for your Right to Buy property, particularly with a history of adverse credit.
Call 01245 330163 For A Free Quote
Lines Open: Mon-Fri 9am-10pm and Sat/Sun 9am-5pm. Alternatively request a call back at a time convenient to you.
It’s quick & easy. No credit check.
How Simply Adverse Can Help
Simply Adverse has an experienced team of whole-of-market brokers who understand the requirements of Right to Buy mortgage applicants. We work with lenders every day and know which are the most likely to approve your mortgage application.
If you are considering using the Right to Buy scheme to buy your current home, speak to us and find out how we can help.
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Save yourself time |
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Pay nothing upfront |
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Access to a range of lenders |
What Bad Credit Mortgage Lenders Do Simply Adverse Work With?
We work with a wide range of Right to Buy mortgage lenders who are open to offering mortgages to applicants with bad credit. This helps us find the best Right to Buy mortgage interest rates out there. he main lenders that we work with include:
