Changes to lending criteria for right-to-buy mortgages could benefit potential homeowners.

Recent changes in lending criteria for the Government’s right-to-buy scheme means that it’s now possible for council and housing association tenants with a less than perfect credit profile are able to obtain a right-to-buy mortgage in the following circumstances:

Right to buy with bad credit:

  • Issues in the last 12 months
  • Low credit score
  • Late payments
  • Recent Defaults
  • Recent County Court Judgments (CCJs)
  • Debt management plans

Right to buy if self-employed:

  • New business (trading 12 months)
  • Use latest years figures
  • Use retained profits
  • Use dividends & salary
  • Contractors considered on day rate
  • Many other scenarios
  • There’s no catch involved - it simply allows creditworthy tenants the chance to buy their property, sometimes with massive discounts and without a deposit.

Find out if you’re eligible here.


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