Council house purchase calculator
Let us find the juiciest quote for you
Work out how much you can afford to borrow with our council house purchase calculator.
Though deals vary from lender to lender, First Mortgage’s calculator can give you a good idea of how much you will need to repay each month. We search the whole of the market for the best deals - and we won’t charge you a thing for our service. Use our council house purchase calculator to find the best repayment option.
What is council house purchase?
Council house purchase allows council tenants to buy their own home with the aid of a cash grant or through shared ownership. Back in 1980, the government introduced the Right to Buy. This scheme allows tenants living in council property to buy their current home (provided they have lived there for at least two years). Since its introduction, Right to Buy has helped over million people buy a home, particularly low-income families and single people.
Using the council house purchase calculator
With our council house purchase calculator you can get a good idea of how much you can afford to repay per month, helping you know what kind of deal to arrange through the Right to Buy scheme. Simply type in your required amount, your interest rate and your repayment term and press the calculate button.
Depending on where you live, there are other options to consider. Another initiative is the House Purchase Grant. This helps council tenants purchase houses in the private sector through a grant. Scottish residents can use Homestake, a scheme that offers a similar arrangement to the Right to Buy, but works on a principle of shared ownership. You can buy back the lender’s share of the property when you can afford it.
Use our council house purchase calculator
Call us on 0845 603 1525 for a free consultation with one of our friendly and experienced team. We are happy to discuss your situation and help choose the best option for you.
Get quotes prepared fast and easy from our award winning brokers starting, with our smart online form. Quote request
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First Mortgage, the UK’s specialists in sourcing mortgages, remortgages and protection plans, are actively encouraging clients in Scotland (...)
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