Right to Buy Mortgage Calculator

Our calculator provides a rough estimate of how much you could borrow to purchase your council home using the Right to Buy scheme. Simply input the following information:

• Income: Your annual household income
• Deposit: The amount you plan to contribute as a deposit
• Right to Buy discount: The estimated discount applicable to your property
• Dependants: The number of dependants in your household.

Please note:

• Our calculator provides an estimate only. A full mortgage assessment is required to determine your eligibility and the exact amount you can borrow.
• Mortgage providers have individual criteria and calculation methods, which may differ from our calculator’s assumptions.

The government Right to Buy scheme gives secure tenants of council accommodation the right to purchase their homes at a discounted rate below the market valuation.

In order to be eligible for the Right to Buy scheme, both you and your property need to fulfil a few key criteria. As the tenant, you need to confirm the following:

• You are a secure tenant.
• You have been a public sector tenant for 3 years or more – but that doesn’t have to have been 3 years in a row.
• You do not have any legal problems with debt.
• You do not have any possession orders outstanding against you.

The property must also:

• Be your only or main place of residence.
• Be self-contained.
• Not be housing specially built for elderly or disabled tenants.
• Not be scheduled for demolition.

If you and your home meet all the above basic criteria, then you can start the application process. You may also have something called ‘Preserved Right to Buy’. This applies if your council property was sold to a private landlord (such as a Housing Association) while you were a tenant.

You are able to apply for Right to Buy on a sole basis if you are the named tenant. Alternatively, jointly with people who are named as joint tenants (such as your partner, spouse or close friend). Or up to three family members who are living with you in the property (even if they are not named in the tenancy agreement).

Determining how much you can borrow under the Right to Buy scheme depends on several factors, including:

• Your income: Lenders will assess your current income and potential future earnings to determine your affordability.
• Your outgoings: Monthly expenses like rent, bills, and other commitments will be considered.
• Your deposit: A larger deposit can significantly increase your borrowing power.
• The Right to Buy discount: The government discount on the property value.
• Your credit history: A good credit score can improve your chances of securing a favourable mortgage deal.

To get a precise estimate of your borrowing capacity, consider using our calculator or consulting with a mortgage advisor. They can provide tailored advice based on your specific financial circumstances.