Council Mortgage Lender

Buying your council house could save you money – but think carefully

Buying your council house could make sound financial sense, but there are things to think about. Before you approach a council mortgage lender, it's important to check that you qualify under the right to buy scheme – some properties and tenants are exempt. Be wary of door-to-door sellers, too.

If you're renting a council house, the right to buy scheme could save you a lot of money: you can buy the property at a big discount, and it's easy to find a council mortgage lender. However it's important to make sure you qualify. If you've lived there for less than two years you're not eligible, and some properties – notably shared accommodation and places that have been adapted for use by the elderly or disabled – are exempt.

Before you look for a council mortgage lender, it's important to do your homework. Mortgage payments may be cheaper than rent, but you'll still be eligible for council tax; you'll also need to budget for repairs and improvements, which could be pricey if your home needs attention.