Unlike some mainstream lenders, we don’t rely on credit scores alone when making our lending decisions.
We understand that real lives rarely fit conveniently into tickboxes. So we look at every application on its merits, and use our common sense to look at affordability. Over the last thirty years we’ve used this common sense to help many eligible people in council and housing association properties achieve their ambition of becoming a homeowner.
We can often help when others won’t
So if you think your circumstances mean you’d never get a mortgage, let's chat. Your Landlord will need to confirm your eligibility for Right-to-Buy and give you an offer letter called a Section 125 Notice (S125). Once you've got this, we’ll consider all applications, including if:
- You have less-than-perfect credit history.
- You’re self-employed, work several jobs, or a have a zero-hours contract.
- You’re retired, or might retire before your mortgage is paid off.
- You want to buy in joint names with up to three family members.
- Your home is made of concrete or is a flat more than six storeys up.
Even if several of these apply to you.
No deposit needed
You could borrow up to 100% of the purchase price, after factoring in the Right to Buy discount and property valuation. You have the option to roll any arrangement fees into the mortgage (other fees and charges may apply), and we won’t charge you for a valuation or using our Solicitors.
You can fix your interest rate for 2 or 5 years, so your payments won’t change even if interest rates go up. And if you ever decide to remortgage somewhere else, our Right to Buy mortgages have no early repayment charges.
At a glance
- Borrow up to 100% of the purchase price (or up to 65% of the market value).
- Fixed rates from 5.6%.
- Variable rates from 4.85%.
- Interest-only repayment options available.
- Maximum age – 80 at end of term.
Overall cost for comparison
For example: A mortgage of £85,000 payable over 30 years initially on a fixed rate for 5 years at 7.12% and then on a tracker rate for the remaining 25 years at 6.87% above the Bank of England Base Rate would require 60 monthly payments of £600.99 and 300 monthly payments of £587.58 plus a redemption administration fee of £150.00.
The total amount payable would be £212,483.52 made up of the loan amount plus interest on the loan (£117,222.40), processing fee (£2,125.00) and arrangement fee (£2,125.00) plus interest on these fees (£5,861.12) and the redemption administration fee (£150.00).
The overall cost for comparison is 7.7% APRC representative.
The actual rate available will depend upon your circumstances. Ask us for a personalised illustration.