Right to Buy Mortgage is a mortgage specifically for those who currently rent their home from the council, and wish to buy their house at a discounted rate under the Right to Buy Legislation.

A Council Right to Buy mortgage is an excellent way to get onto the property ladder without having the hassle of saving for a deposit. Monthly mortgage payments are often lower than rental costs.

Various Right to Buy mortgage schemes are available which allow you to borrow additional money in order to fund home improvements, the purchase of a car or even a holiday.
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Whether you have a good or bad credit history, we'll advise on the best Right to Buy mortgage for you. Simply complete our no obligation enquiry form and one of our expert mortgage advisers will get back to you with the best deals currently available in the UK.

Here is a summary of the main changes that are law from 17th January 2005 in England and Wales.  Your council should have more details.

Under the old law, if you re-sold your home within 3 years of buying it from the council, you were required to refund (to the council) some or all of the discount that you received when you purchased it. Under the new law, the period where a refund will be payable is extended to 5 years.

Under the old law, if you re-sold your home within 3 years of purchase, the amount you were required to pay back was a % of the discount you received. After 17^th January 2005, the amount you are required to pay back is a % of the re-sale price.

Under the new rules, the council has the option of buying the property back in preference to any other purchaser.  The council has this right of first refusal, for up to 10 years.