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Frequently Asked Questions

What is the difference between an interest only and repayment mortgage?

With an interest only mortgage you only pay the interest charge each month and the original mortgage...

I want to buy my council property, do I qualify?

In order to have the right-to-buy your council property, you need to have been a council tenant for ...

What do our clients say?

Getting a better mortgage deal has saved us nearly £200 per month and we have used this saving to re...

Jayne - Griffon January 2007

Imas were able to sort out my mortgage with no trouble at all. I wish I had contacted them sooner – ...

James - March 2007

You Are Here: Home | Right to Buy Mortgage

Right to Buy Mortgage

If you are a council tenant, The Right To Buy scheme enables you to buy your home at a discounted price, provided that you have been living there for two years and meet the other qualification criteria.

We understand how daunting it can be when you are faced with all the potential issues associated with buying your council house. Have you requested your Right To Buy documents from your landlord? Do it now. You’ve then got a year to finalise the purchase. Be warned , Right To Buy purchases can take a long time to complete. With recent property rises and lower interest rates it may be that you could be paying out less on a mortgage than in rent.

Accepting the council’s offer to purchase your home can be an excellent way to get on the property ladder without the bother of saving for a deposit.

All circumstances considered
Any amount of Arrears and CCJ’s acceptable
No income proof/self-certification schemes
Borrow more than the council purchase price
Up to 85% of the open market value
Schemes for discharged bankrupts and IVA’s

Cost Comparisons

Right to Buy - The overall cost for comparison is 7.1% APR. The actual rate will depend on your circumstances. Ask for a personalised illustration. Rate correct as of 17/12/2008.

Bankruptcy/IVAs/CCJs - The overall cost for comparison is 10.0% APR. The actual rate will depend on your circumstances. Ask for a personalised illustration. Rate correct as of 17/12/2008.

Self Employed - The overall cost for comparison is 9.0% APR. Rate correct as of 12/12/2008. The actual rate will depend on your circumstances. Ask for a personalised illustration.

You have no need to worry as we take care of the legal services and arrange for a solicitor to act on your behalf. This all adds up to a Right To Buy hassle free process.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

There will be a fee for mortgage advice. Our typical fee is £595.

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Registered Office: 28 Alexadra Terrace, Exmouth, Devon, EX8 1BD
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Independent Mortgage Advisory Service Ltd is authorised & regulated by the Financial Services Authority (FSA registration number 479446). Some of the products/services shown are not or may not be regulated by the Financial Services Authority (FSA).