Thank you for your enquiry for a Council House Mortgage
Each person has unique and individual circumstances and requirements, and our recommendation for your Council House Mortgage will reflect your own personal needs.
To enable us to provide you with an initial quote for your Council House Mortgage please submit your details and we will try to contact you today.
A Council House Mortgage is arranged when someone living in a council owned home has decided to purchase it. The councils of the UK have denoted thousands of land lots and houses to accommodate lower income families and it also has put a discount scheme into effect when it comes to the purchase of a home.
Only certain mortgage companies will lend money to purchase a council owned home. One should always go through an experienced broker (one who has experience with council house mortgages) when planning to buy this type of home.
There is an application process that comes with getting a council house. The people that apply are usually lower income families and the government further helps them by giving them the home at a cost that is discounted by thousands of pounds. Once a person is approved for a council house they have to contact a broker to get a lender who is willing to take on a mortgage with them. In most cases you have to have been a resident of your present home for at least two years. More people are accepted than not when it comes to Council House Mortgages. Gleaming credit history is not something that is expected to be seen as the people in these homes are usually from low income families.
Since the late 80s, most homes that have been built by the local councils in the UK have run upon the Right To Buy scheme. This idea has made it possible for lower income families to own their own home by applying under this act. This is where the council mortgage people step in.
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The Mortgage train is a trading style of SourceIFA Limited. Registered office Argyll House, 158 Richmond Park Road, Bournemouth, Dorset. BH8 8TW Registered in England and Wales No. 06363148. This website is produced for information only and does not constitute or offer advice.