Your home may be repossessed if you do not keep up repayments on your mortgage.
We provide an independent comparison service free of charge but we may receive a commission from some of the companies we refer you to. These are indicated with purple buttons.
Over 1.5 million people have bought their home under the 'right to buy' scheme in the UK.
There are lots of right to buy mortgage lenders and deals in the market so there's plenty of choice.
However, for this reason it's important that you compare right to buy mortgages before applying to ensure you don't end up paying more than you need to for your home.
With dozens of lenders offering hundreds of right to buy mortgage deals it can be tough to find the best mortgage for you.
A good place to start your research is with an online comparison as this gives you an easy way to get an overview of the terms and costs of right to acquire mortgage deals from all the leading lenders.
Will they lend you 100 per cent of the discounted right to buy purchase price or do you still have to put a deposit down?
Is it a fixed or discounted rate deal? Are there 'early repayment charges' for coming out of the deal early?
These can add a significant amount to the overall cost of a mortgage deal so it's important to factor fees into your comparison. Look for the deal that suits your requirements and offers the combination of low fees and a low interest rate.
You will generally find that you have many of the same mortgage options as other purchasers. However, if you aren't fully employed or if you have a less than perfect credit history you may have to look at specialist lenders who offer right to buy mortgages for bad credit.
You should take each of these points into consideration when you compare right to buy mortgages so that you're able to find a deal that is affordable and suits your circumstances.
While it may be tempting to pick the right to buy mortgage with the very lowest interest rate, ultimately it may not be the best option for you so you must check the terms and conditions.
For instance, the cheapest mortgage deals are often trackers or discounted rate deals and while they can seem very attractive, the rate of interest and the amount you pay each month could increase at any point.
If you feel you'd benefit more from stable payments opting for a fixed rate mortgage that meant you paid a slightly higher initial monthly amount for the benefit of security that your payments won't increase during the deal could save you money in the long term and provide peace of mind.
In addition, the very cheapest deals sometime come with high fees or may only be available if you put down a large deposit so you need to check the terms and conditions of any option that seems suitable if you want to ensure you get the right to buy mortgage that will be cheapest for you..
A mortgage is a path to buying the home you want but it's also likely to be the biggest financial commitment you ever make. So, finding the best rates & the most suitable mortgage package is vital, here's how.
Should we get a joint mortgage?
How to apply for a mortgage in principle
How Much of Your Savings Should You Put Down as a Deposit?
Mortgage broker or direct deal?
How do stepped mortgages work?
Using a direct debit can be a convenient and hassle-free way to pay your bills, leaving the company you're paying to do all the leg work. Here we answer all your most common direct debit questions...
The new Apple iPhones have arrived! To celebrate we've found the very best money savings apps available to download to your new device. Here's our top 10 innovative finance apps.
Amazon has upped the amount you'll have to pay to use the Amazon Prime delivery service, attracting a hefty amount of flak in the process. But, even though the price has gone up, is it actually good value? We investigate.