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It
costs nothing to ask for a professional
advice! |
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We
have several advisors who specialise in mortgages
for various people in various circumstances. Transferring
from renting a house to actually buying the property
may seem like a risk but, with our advisers help,
the change could prove one of the most rewarding
decisions you'll ever make.
Key Points
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The
majority of council tenants qualify under
the local authority ' Right to Buy ' scheme.
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This
allows you to buy the house your are renting
at a discounted price. The discount can be
anything up to 60% of the market value of
the house and up to 70% of the flat.
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The
only point worth remembering is that should
you sell the property within first 3 years,
you would have to pay a proportion of discount
back to the Local Authority. This is usually
one third for each year. . Say for example,
your council house is valued at £60,000 and
you receive a 60% discount = £36,000. Purchase
price is therefore = £24,000.
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We
can arrange a mortgage, for example 75%, of
the actual value = £45,000. This would allow
you to purchase the property plus £25,000
to settle any existing debts, and carry out
home improvements, also giving you a cash
surplus to spend as you please as well as
reducing your monthly out-going's.
Our advice
Make
sure you get a decent long-term discounted, fixed
or capped rate mortgage.
Make sure you keep up with your instalments.
Lenders do not like to wait as your council may
let you go into arrears in your rent.
Your Home is at risk if you do not keep up repayments
on a mortgage or loan secured on it.
Benefits
In
future, you will be a home owner with an asset,
instead of a tenant paying rent. This will also
mean you will find it easier to get credit in
the future.
Summary
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Be
a Home owner
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Reduce
out-going's
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Save
money by enjoying the discounted price
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Build
your credit rating
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Live
in a better home by improving it
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Build
up capital for long-term security
To
get the best free advice, in your particular circumstances,
just complete our simple application form and
wait for a call from our advisor usually within
the next few hours.
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It
costs nothing to ask for a professional
advice! |
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Our
Customer Care Code
- Data Protection
| Useful
reading |
Useful Links |
"Mortgage
loans: What's right for you? by James
E. Bridges"
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It
costs nothing to ask for a professional
advice! |
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Updated:
August 2005 |
