Lets answer some of your Right to Buy Mortgage questions
Follow my recent youtube video which can be seen by clicking here a whole host of questions where asked by prospective Righ to Buy Mortgage clients so I thought I do another video and blog post to try to answer some of the key points.
The following Right to Buy Mortgage questions and answers have been based on a case study to bring responses to life. All persons mentioned are fictional.
Case study: Marjorie Smith lives and rents her council flat overlooking the Thames with her Son, Michael, and has done so for a number of years. She has recently received a Section 125 notice Right to Buy Offer letter in the post. This has granted permission for her council home worth £200,000 to be bought off the local authority at a reduced price off £150,000. Marjorie has a large balance on her catalogue account. Michael hasn’t always conducted himself or his finances well. Marjorie’s other Son Jeff lives with his Father.
– the value of their home
– the length of time they’d been council tenants
– and the fact they were buying flat rather than a house
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