Bad Credit Mortgages we offer:

Purchasing a Flat with Right to Buy

Large Panel of RTB Lenders.
Missed & Late Payments Accepted.
Defaults & CCJ’s Accepted.
Houses, Flats and Maisonettes.

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Purchasing a Flat with Right to Buy

Many council homes are flats / maisonette’s and whilst you can purchase these properties using the Right to Buy scheme it is important to note that you will be buying a leasehold (area of the unit) and the freeholder (your current landlord) will be responsible for maintaining the communal areas and the building itself.

What is a leasehold?

With a leasehold you are purchasing a lease for the property for XX number of years – This is can be for 100’s of years, but obviously this reduces over time. You will not own the land the property has been built on.

As you don’t own the land the freeholder is responsible for the building itself and maintaining the communal areas.

Are there any ongoing Leaseholder Costs?

Yes – As a leasehold you will have to pay a service charge, this maybe a monthly or yearly payment plus if it is identified that major works are required to the building or the surrounding areas you will be required to pay for your share of the costs.

Your service charge costs must be outlined in the offer notice (Section 125) issued by your landlord plus the landlord has to make you aware of any planned maintenance, repair or improvements planned within the next five years.

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What to Expect from The Money Hub

We Gather Information Required to Search the Market

We gather some basic information about you using our quick online form

Conduct a Whole of the Market Comparision

We will search 100’s of providers to find you the lenders who are willing to approve your mortgage

Provide full service through to completion

We will show you rates along with the monthly repayments. This will not affect your credit score. We’ll also explain any fees if you progress at this point and as long as you are happy to proceed, provide you with the full service through to completion of your mortgage being accepted

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