Right to buy/Shared Ownership

Certain schemes may help you get your first foot on the property ladder!


·         No deposit required for Right to Buy

·         Limited deposit required for Shared Ownership schemes

·         Rates based on full market value

·         Bad credit ratings accepted 

Apply online now or get in touch for a friendly chat with an expert.

terraced houses

What is the Right to Buy scheme?

Right to Buy Mortgages operate similarly to standard residential mortgages. In fact, individuals who acquire their council house through a Right to Buy program are eligible for the same mortgage offers as anyone else.

The Right to Buy program permits current tenants of public-sector residences in England to purchase the property they currently rent at a discounted price below market value. This scheme has been in existence in some form for many years, and gained significant popularity during the 1980s, resulting in over a million council houses being sold to tenants.

Alterations in governmental policy reduced discounts and changed who could make use of the Right to Buy scheme. However, subsequent revisions to the program in 2015 have made it more appealing and accessible to public-sector tenants in England. The recent adjustments expanded the scheme’s scope to include housing association tenants in addition to council tenants.

Looking to buy your council house or flat? We can help.

How do I apply for Right to Buy?

To apply for a Right to Buy mortgage, you have to send a completed application form to your landlord, who will respond by sending you an offer. This will outline the following:

  • A description of the property
  • The price they believe you should pay for your property
  • How the price was worked out
  • Your Right to Buy discount and how it was calculated
  • Description of the property, plus any land, that is included in the price
  • An estimate of service charges for the first five years if you’re buying a flat or leasehold house
  • Any structural defects the landlord knows about.

Once you have received an offer, you have 12 weeks to confirm your intention to buy.

Shared Ownership:

Shared ownership schemes are a cross between buying and renting, so you don’t own 100% of your home yourself.

You buy a percentage of the house which means you can get on the property ladder and then rent the part you don’t own at a reduced rate. A housing association will usually own the rest of your property. This means your ownership will be leasehold.

With shared ownership, you get to choose how much you can afford. Typically, this is likely to be between 25% and up to 75% of the property value. It is worth noting that you have the option to buy a bigger share in the property at a later date, or even buy the housing association’s share completely.

You take out a mortgage to buy your share and you pay rent to the housing association every month on the portion that they own. You’ll still need to put down a deposit, but as you’re buying a percentage of the house, the deposit will be smaller.

Most of the homes are newly built, but some are properties being re-sold by housing associations.

You will see that a lot of lenders insist on a special shared ownership mortgage with differing rates and some do not offer shared ownership mortgages at all.  However, with our expertise at Breeze, we can assist you by identifying what lenders to approach and can source you the best deal.


Can I apply for shared ownership?

Key points before you can be considered:

– People whose combined household income is less than £80,000 (in London, it’s less than £90,000)

– You’re a first time buyer or used to own a home but can’t afford one now

– You currently rent a council house or housing association property


It is no secret shared ownership mortgages are difficult to come by. Nevertheless, at Breeze, our team of mortgage specialists can assist you in finding one. We are available to respond to any queries you may have and there’s no obligation to use us.