The Right to Buy scheme helps eligible council tenants in England to buy their home with a maximum discount of up to £116,200 (£87,200 outside London). This will increase each year in line with the Consumer Prices Index (CPI). The Right to Buy was introduced in 1980 and since helped millions of people to buy their home.
If you’re thinking about taking advantage of the Right to Buy scheme, it’s important to get professional mortgage advice to ensure that you understand all of the implications and make the best possible decision for your circumstances.
At Echo Finance, we have a team of expert mortgage advisers who are experienced in helping people with the Right to Buy scheme. We can help you to understand how the scheme works and assess whether it’s the right option for you. We can also compare the different mortgage deals available to help you find the one that best meets your needs.
To speak to one of our Right to Buy mortgage brokers, call us today on 08000 934 914 or request a callback.
Who is Eligible for the Right to Buy Scheme?
To be eligible for the Right to Buy scheme, you must:
-Have three years tenancy in public housing
-Be a secure tenant with a public sector landlord such as a local authority or housing association
-The home must be your only or main home, and it must be self-contained
Learn more about the Right to Buy eligibility criteria.
How Does the Right to Buy Scheme Work?
If you’re eligible for the Right to Buy scheme, you can buy your home with a discount of up to £116,200 (£87,200 outside London). The size of the discount you’re entitled to depends on how long you’ve been a tenant, as well as the type of property you live in.
You’ll need to get a valuation of your property to find out how much the discount will be. The government has published guidance on how valuations for the Right to Buy are calculated.
You can find out more about how the Right to Buy scheme works on the government’s website.
What Is a Right to Buy Mortgage?
A Right to Buy mortgage is a specialised mortgage product that’s available to people who are taking advantage of the Right to Buy scheme.
The main difference between a Right to Buy mortgage and a standard residential mortgage is that the calculations are based on the discounted purchase price rather than the market value of the property. Depending on the lender, you may be able to use the discount in lieu of a mortgage deposit.
For example, if your home is valued at £200,000 and you’re entitled to a discount of £50,000, you would only need to take out a mortgage for £150,000.
It’s important to note that not all lenders offer Right to Buy mortgages, so it’s important to compare the different deals available before you apply. Right to Buy mortgages work in exactly the same way as standard residential mortgages, so you’ll need to be able to afford the monthly repayments .
If you’re not sure whether you can afford a mortgage, our mortgage affordability calculator can help you to work out how much you could borrow.
At Echo Finance, we can help you to compare the different Right to Buy mortgage deals that are available and find the one that best meets your needs. To speak to one of our mortgage advisers about Right to Buy mortgages, call us today on 08000 934 914 or request a callback.
Making a Joint Right to Buy Application
You don’t have to do it alone – you may be able to make a joint application for Right to Buy. If you’re eligible, you might be able to buy your home with:
- Someone who shares your tenancy
- Your spouse or civil partner
- Up to 3 family members who’ve lived with you for the past 12 months. They don’t have to be on your tenancy agreement but it must be their main home
Nothing in law specifies how a Right to Buy purchase should be financed. A family member (or someone else) could provide the funding for the purchase. However legal ownership of the property can only be in the names of the eligible tenant/s and other eligible applicants. We recommend that you get financial and legal advice before taking this step.
To find out more about making a joint Right to Buy application, call us today on 08000 934 914 or request a callback.
Do You Need a Deposit for a Right to Buy Mortgage?
One of the main advantages of the Right to Buy scheme is that you can use your discount instead of a deposit, which means you don’t need to save up for a deposit. There are certain lenders that will accept your Right to Buy discount as a deposit, but not all of them do.
At Echo Finance, we can help you to find a lender that will accept your Right to Buy discount as a deposit. We have access to a wide range of lenders, some of which offer specialist Right to Buy mortgage products.
How Much Can I Borrow on a Right to Buy Mortgage?
Lenders who offer Right to Buy mortgages will typically lend up to 100% of the Right to Buy price. This means that if you’re buying a property with a market value of £200,000 and you have a discount of £20,000, you could borrow up to £180,000.
If you want to buy your home with a mortgage, you’ll still need to meet the lender’s affordability criteria. This means that you’ll need to have enough income to cover the mortgage repayments, as well as any other outgoings such as bills and debts.
Can I Buy My Council House While on Universal Credit?
Yes! If you’re claiming Universal Credit, you may still be able to get a mortgage. The main thing that lenders will look at is your income and outgoings, to make sure that you can afford the mortgage repayments. There are some specialist lenders who offer mortgages to people on benefits, so it’s worth working with an expert mortgage broker to find the right deal for you.
If you are thinking of buying your council home, it is important to get mortgage advice from an experienced professional. They will be able to assess your situation and give you the best advice on how to proceed.
There are a few things to consider before you apply for the Right to Buy scheme. You will need to have been a tenant of your social housing property for at least 3 years. You will also need to be up-to-date with your rent payments.
Once you have met these criteria, you can apply to buy your home through the Right to Buy scheme. The process can take a few months, but it is possible to buy your council house while you are on Universal Credit.
If you have any questions about the Right to Buy scheme or getting mortgage advice, please contact us. We would be happy to help!
Can I Buy My Council House if I Have Bad Credit?
Yes, you can still buy your council house if you have bad credit. Your credit score is not a factor that is taken into consideration when you apply for the Right to Buy scheme. However, your mortgage lender will perform a credit check when you apply for a mortgage.
If you have bad credit, it is important to work with an experienced mortgage broker who can help you to find a lender that is willing to accept your application. There are a number of specialist lenders who offer mortgages to people with bad credit, so it is possible to get a mortgage even if you have had financial difficulties in the past.
If you are thinking of buying your council home, it is important to get mortgage advice from an experienced professional. They will be able to assess your situation and give you the best advice on how to proceed.
Is Buying a Council House a Good Investment?
The Right to Buy scheme has allowed many people to get on the property ladder who may not have been able to do so otherwise. In general, property prices have increased over time, so there is the potential to make a profit if you sell your council house at a later date.
Of course, there are no guarantees when it comes to property prices, so it’s important to bear this in mind before you purchase a council house. If you are thinking of buying a council house as an investment, it is important to seek professional advice.
At Echo Finance, we are experts in the Right to Buy scheme and can offer advice on whether buying a council house is the right choice for you. We can also help you to find the best mortgage deal if you decide to go ahead with the purchase.
Other Costs to Consider When Buying a Home
As well as the price of the property, there are other costs to consider when buying a house. These include:
- Stamp duty: This is a tax that you will need to pay on properties over a certain value. The amount of stamp duty you will need to pay depends on the value of the property.
- Mortgage fees: These are the fees charged by the lender for arranging your mortgage.
- Legal fees: You will need to pay a solicitor or conveyancer to carry out the legal work associated with buying a property.
- Ongoing costs: Once you have bought your council house, you will need to pay for ongoing costs such as Council Tax, utility bills, and home insurance, and of course, your mortgage repayments.
- Maintenance costs: It is important to budget for ongoing maintenance costs, as you will be responsible for any repairs or improvements that need to be made to the property.
The costs of buying a council house can add up, so it’s important to factor them into your budget.
What Happens When I Sell My Right to Buy Home?
If you sell your Right to Buy home within the first five years, you will have to repay some or all of the discount that you received. The amount that you will need to repay depends on how long you have owned the property.
After five years, you are free to sell your property without having to repay any of the discount.
If you are thinking of selling your Right to Buy property, it is important to seek professional advice.
Alternatives to Right to Buy
If you are a tenant of social housing property, there may be other options available to you if you want to buy your home. These include:
- Shared ownership: This allows you to part-buy and part-rent your home. You will need to pay a mortgage on the portion that you own and rent the remainder from the social housing provider.
- Right to Acquire: This is similar to the Right to Buy scheme, but is designed for housing association property tenants.
If you are thinking of buying your social housing property, it is important to seek professional advice.
Speak to an Expert
If you are thinking of buying your council home, it is important to get mortgage advice from an experienced professional. They will be able to assess your situation and give you the best advice on how to proceed.
At Echo Finance, we are experts in Right to Buy mortgages and can offer you tailored advice to suit your individual needs. We can also help you to find the best mortgage deal if you decide to go ahead with the purchase.
Contact us today to speak to one of our expert advisers.
Find your local adviser

Frequently Asked Questions
Below you will find the answers to the questions we hear most often from Echo Finance customers:
A mortgage broker, or a mortgage advisor, is an intermediary who acts as a conduit between an aspiring borrower and a lender. It is their job to provide the mortgage applicant with impartial advice, help them choose the right product and arrange the deal with the lender.
Brokers provide services including advice on which type of mortgage to choose, providing access to exclusive rates through their lender contacts, and application support. Some can offer advice on all areas of the mortgage market, while others specialise in niche fields such as buy-to-let, bad credit, commercial finance, first-time buyers or self-employed borrowers.
People choose to apply for their mortgage through a broker because it can boost their chances of finding the right deal, while saving time and money in the long run.
- Residential mortgages: Everything from fixed-rate to tracker mortgages for first-time buyers, homemovers and remortgage borrowers
- Specialist mortgages: For borrowers who fall outside of standard lending criteria, including people with bad credit, self-employed professionals and more
- Later-life lending: Including advice on equity release, mortgages for pensioners and retirement interest only (RIO) mortgages
- Bridging & Commercial: We have specialist advisors on hand for commercial mortgages, bridging loans, development finance and more
- Insurance & Protection: Including life, home and critical illness cover for families and individuals, as well as landlord and business protection insurance
Echo Finance is regulated by the Financial Conduct Authority and is reviewed annually by an independent compliance company. All of our brokers and advisers hold industry-standard qualifications, such as CeMAP, CeRER and DipMap, where required.
We are committed to providing advice through the channels that best suit your needs. Our brokers can provide advice via phone, email, video and web chat from anywhere in the UK, but we also aim to offer face-to-face appointments for those who request them.
