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Right to buy mortgage broker

(2 Posts)
happy2bhomely Thu 11-Jun-15 18:42:45

Hi, I'm wondering if anyone has any recent experience of using a broker to find a right to buy mortgage?

We have had our valuation and discount information in the post today. The house is worth £340,000 and after deducting the maximum discount and improvements we've made, we've been told we can obtain the free hold for £237,000.

I've been told that some lenders are happy to accept the discount as the deposit, so that should help a lot but we do also have some savings.

The trouble is we have an income of about £43,000 which judging by the online calculators is no where near enough.

Do you think it's possible that a broker could find us a mortgage or is it just too unrealistic? The only people I know with mortgages got them 20 years ago, so a lot has changed since then! I'm completely clueless about the process and feel a bit dim.

Can anyone help?

candybar Sat 18-Jul-15 23:00:51

Santander offer rtb mortgages and will accept the discount as the deposit, I'd suggest contacting them to enquire. From my experience your income would need to be higher to obtain a £237,000 mortgage. When we applied our top offer was £241,000 with earnings of £55000 and no debt.

Hope that helps.

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