Right to Buy Mortgage Calculator

Want to know how much discount you could get for a Right to Buy property? Use our calculator to find out everything you need to know.

Are you purchasing a Right-To-Buy property?

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Pete Mugleston

Author: Pete Mugleston

Mortgage Advisor, MD

Updated: March 15, 2024

Working out your discount for the Right to Buy scheme and potential mortgage repayments can be tricky as there are several factors that affect both calculations.

In this article we’ll explain what those factors are, how using a Right to Buy mortgage calculator can help make things clearer and why you should speak to a specialist broker to make sure you get the best deal available.

How to calculate your Right to Buy discount

You can use our calculator below to work out how much discount you can get when buying your council house through the Right to Buy scheme. Once you know how much discount you’re entitled to, you can use the other calculators on this page to work out your maximum borrowing and mortgage repayments.

Right to Buy Calculator

Our Right to Buy calculator will tell you how much discount you're eligible for on the purchase price of your property.

Select house or flat
In pound sterling
Discounts begin at 3 years

Your Right to Buy discount percentage could be:

Your Right to Buy discount value could be:

The cost of your property after the Right to Buy discount could be:

Now that you've worked out how much discount you're eligible for and know the amount you need to buy your property, your next step should be to seek professional advice if you need a mortgage to foot the cost. We work with brokers who specialise in Right to Buy mortgages, and they're just an enquiry away.

Maximise your chance of approval with a specialist in Right to Buy mortgages

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How much can you borrow on a Right to Buy mortgage?

Usually, the most you can borrow when buying your council house is four times your income (five times with some lenders).

But with Right to Buy, how much you need will depend on several other factors, including what discount you are entitled to.

Some lenders will allow you to borrow 100% of the discounted value of the property, while others will only lend a percentage of it. In some cases, lenders will allow you to borrow more than 100% of the discounted value if the funds are for home improvements.

Use our calculator below to get a rough idea of what your maximum borrowing could be.

Mortgage Affordability Calculator

Use this calculator to determine how much you could potentially borrow for a mortgage, based on the typical salary multiples used by most UK lenders.

Input full salaries for all applicants

Your Results:

You could borrow up to 

Most lenders would consider letting you borrow

This is based on 4.5 times your household income, the standard calculation used by the majority of mortgage providers. To borrow more than this, you will need to use a mortgage broker to access specialist lenders.

Some lenders would consider letting you borrow

This is based on 5 times your household income, a salary multiple you might struggle to qualify for without the help of a broker. This income multiple is not widely available to customers who are applying directly with a lender.

A minority of lenders would consider letting you borrow

This is based on 6 times your household income, a salary multiple you will struggle to get without a broker. Six-times salary mortgages are usually only available under very specific circumstances.

Get Started with an expert broker to find out exactly how much you could borrow.

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Other factors affecting the Right to Buy discount you receive and, therefore, the total amount you might need to borrow include:

  • How long you have lived in the property (minimum three years)
  • Where in the UK you live
  • Whether your property is a house or a flat (discounts differ)

How a broker can help secure the mortgage you need

The Right to Buy scheme can be quite a complex, drawn-out process. But, as long as you’re able to navigate it successfully you can secure your dream of owning your home rather than renting it.

This is where a specialist broker can help. We work with brokers who have access to every mortgage deal in the UK and are experienced in securing the best deals on Right to Buy mortgages for people purchasing their council houses in all kinds of situations.

To chat to an expert about your situation and get a better idea of how much you can borrow and how to start planning your budget, get in touch so we can match you with a handpicked Right to Buy specialist.

We're so confident in our service, we guarantee it.

We know it's important for you to have complete confidence in our service, and trust that you're getting the best chance of mortgage approval at the best available rate. We guarantee to get your mortgage approved where others can't - or we'll give you £100*

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How much your repayments will cost

Once you know how much you might be able to borrow, our mortgage repayment calculator will give you an indication of how much the monthly repayments on your Right to Buy mortgage are likely to be.

Try our repayments calculator below…

Mortgage Repayment Calculator

This calculator can tell you the monthly and overall cost of your mortgage, based on the loan amount, interest rate, and term length.

Enter the amount you're borrowing
Enter the mortgage rate, 5.5% is a typical rate currently but this can vary
Enter the mortgage term, 25 years is the average but lenders can offer shorter and longer terms

Your Results:

The monthly repayments on a mortgage would be

The total amount paid at the end of your mortgage term would be

Get started with an expert broker to find out how much they could help you save on your mortgage repayments.

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Remember, though, that these calculations are just a guide, and you should speak to a broker for a more detailed idea of your borrowing options.

Factors that will determine – both directly and indirectly – your borrowing capacity, the rate you might be offered and how much your repayments will be include:

In general, the value of the property, your annual income/outgoings and deposit will have a direct impact. Whereas other factors, such as having a poor credit history or inconsistent employment record could have an indirect impact by reducing the number of lenders willing to consider your application.

A smaller pool of lenders means you’re less likely to qualify for the most competitive interest rates and, as a result, affects your monthly mortgage repayments.

Are Right to Buy mortgages calculated differently around the UK?

The discount you’re entitled to is higher in London. While it’s up to 70% of the property’s value or £96,000 outside of the capital, it goes up to £127,000 in London.

For Right to Buy in Northern Ireland, discounts start at 20% after 5 years and go up by 2% per year to a maximum of 60% or £24,000.

Right to Buy in Wales and Scotland ended in 2016 and 2019 respectively.

How Online Mortgage Advisor can help

Our unique broker matching service will make sure you are paired up with a broker who specialises in helping people like you secure the best Right to Buy mortgage available.

Whether you’re self-employed, have bad credit or just don’t know where to start, after a brief assessment, we’ll put you in touch with someone that understands your situation and knows how to maximise your borrowing potential.

To get matched with your ideal Right to Buy mortgage specialist call on 0808 189 2301 or enquire online.

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We can help!

We know everyone's circumstances are different, that's why we work with mortgage brokers who are experts in Right to Buy Mortgages.

Ask us a question and we'll get the best expert to help.

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About the author

Pete, an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete found great success in going the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained, coupled with his love of helping people reach their goals, led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.

Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for Online Mortgage Advisor of course!

Read more about Pete

Pete Mugleston

Mortgage Advisor, MD

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