Having your own shelter gives you a feeling that you are emperor in your own castle. It really gives you an immense satisfaction. People slog their entire life for having their own abode. It is hard being a tenant for long.
If you are living as a council tenant for at least two years you have the
Council Right to Buy Mortgage [http://www.adverse-credit-council-mortgages.co.uk] means you are entitled to buy your council home at a discount to the full market value. Obviously, your discount will depend on the number of years you have lived as a tenant.
Right to buy means you can buy your home from local authority, a no charitable housing association or a housing trust. Usually it will cost less than the open market because as a tenant you can obtain a fabulous discount.
The advantages of council right to buy mortgages:
o Repayment will be within the budget
o Low interest rate
o Flexibility in terms of repayment schemes
o Small monthly outgoings
o Ultimately it saves a considerable amount of money
Adverse credit or poor credit is caused by defaults on payments, arrears, county court judgements, bankruptcy , delayed or missed payments etc. Many lenders consider it as a negative impression of the borrower and are not very comfortable in offering them a mortgage deal. However, it is not an uncommon phenomenon.
Council right to buy mortgage will provide you with enough money to get the home registered in your name. If you actually apply for council right to buy, first of all the value of your property will be assessed. This will be followed by an opportunity to buy this property at discounted prices. The discount on council right to buy is usually a percentage of the value of the property.
Council Right to Buy Mortgage is increasingly becoming popular though it is a specialised mortgage product. So, if you are still a council tenant, make use of the rare opportunity of becoming a proud homeowner.