Car Insurers Debate Over Future Profits

UK car insurers have been running an unprofitable business for 14 years. Independent market analysts, Datamonitor, say 2009 looks to be a profitable year despite the doubts

March 13, 2008

Budget Report Expectations

Chancellor Darling's Budget Report is expected to raise taxes on alcohol, fuel emissions, flights and many other issues concerning the economy. Tax burdens expected to increase on poorer families

March 12, 2008

Card Fraud Rises Again

Card fraud has increased over past year. Whilst chip and PIN technology has been successful in the UK, criminal activity overseas has increased 77 per cent

March 12, 2008

Tax Cuts Needed To Restore Confidence

Appeals for corporate tax cuts are submitted to the Treasury as it prepares its Budget report this Wednesday. Business and banking sectors are worried about the direction of the UK economy

March 10, 2008

First Time Buyers Take Hit From Stamp Duty

Stamp duty tax has not kept up with the rate of increase in house price inflation over the past decade. Yet another hurdle first-time buyers must leap over to get on the property ladder

March 10, 2008

Read all Finance News

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Find Right To Buy Mortgages - See if you qualify

A Right to Buy mortgage is a scheme designed to offer qualified council tenants the right to purchase their home from the council at a discounted cost. In addition, tenants of housing associations may also qualify for this programme.

To find out if you qualify, simply fill in your requirements in the form above and you’ll receive a free, no obligation quote from a certified mortgage broker to help you find the best mortgage according to your needs. Apply Now.

One of the first things to think about when pursuing your Right to Buy mortgage is to ensure you are eligible. According to direct.gov.uk there are a few details to determine eligibility.

You are eligible for a Right to Buy mortgage if:

• You have been living in your council home for at least 2 years and have made timely rental payments.
• If you became a council tenant after the 18th of January 2005, you may be eligible after 5 years.
• If you have been a ‘secure’ tenant of a local authority and the property you live in was later transferred to a housing association, you may qualify for what’s known as a Preserved Right to Buy. However, to be eligible for this scheme, you must have lived in the same home before and after the transfer to the housing association.

Once you determine you are eligible, you may apply for a Right to Buy mortgage. However, if you are ineligible, find out in further detail from your council what is needed on your part. Below you’ll find information on what is not considered qualified to buy your council home.

You are not eligible for a Right to Buy mortgage if:

• Your tenancy is ‘assured’ with a registered social landlord and, in addition, you must be eligible for a Preserved Right to Buy scheme.
• You rent your home based upon your employment situation.
• You are ordered to leave your home by the courts.
• You are currently in the process of bankruptcy.
• The home you rent is provided for older people, which may or may not include housing for the disabled.

If you are eligible, discounts may be available off the current market value of the home depending on how long you have lived in your home. The longer you have been a tenant in the same home, the greater the discount on the purchase price. After you buy your council home, it is recommended to not sell quickly as you could be ordered to repay any discount you receive upon purchase.
If you feel you are eligible and would like to find out more information on mortgages available to you, especially as a first time buyer, the MoneyOutlet makes it easy for you to apply.

Here at the MoneyOutlet we work with a vast network of UK mortgage brokers with special access to banks, building societies, and specialty mortgage lenders. Even if you suffer from bad credit, CCJ’s, mortgage arrears or filed for bankruptcy or an IVA? We can help!

Why not see how we can help you today? Use www.moneyoutlet.co.uk to search and compare online and help find you the best available mortgage loans in today’s market no matter your credit status.

You'll find more information on Council Right to Buy mortgages at the direct.gov.uk website

Published on September 22, 2007

Darling's Budget Report Highlights

Chancellor Alistair Darling delivers his first Budget Report yesterday. Highlighted in this article are some of the main points... Read More
March 13, 2008

Lending Falls Again Says CML

The amounts borrowed by first-time buyers and home movers continue to drop as the credit crunch takes further grip on the UK mortgage market. Remortgage activity is on the increase as many switch from fixed-rate deals to tracker mortgages in anticipation of further base rate decreases from the Bank of England... Read More
March 12, 2008

Interest Rates Kept At 5.25%

Yesterday, 6th March, the MPC decided to keep the base rate at 5.25 per cent. This decision was to be expected as the Bank focuses on the pressures of rising inflation and a slowing economy. Analysts are predicting another cut to 5 per cent to happen in May unless economic conditions weaken substantially. Whilst some feel the MPC shouldn't wait too long before the next cut, many agree with yesterday's decision... Read More
March 7, 2008

20 Per Cent Of Homeowners Fear Repayments

The UK's financial watchdog, the FSA, published a survey of over 500 mortgage holders which revealed 1 in 5 are worried about being unable to keep up with their mortgage repayments. It is estimated that 1.4 million fixed-rate or discount deals will expire this year raising monthly repayment amounts. Twenty five per cent of those surveyed admitted they had no contingency plans to meet these costs... Read More
March 6, 2008

Mortgage Criteria Becoming More Difficult

Mortgage borrowers are once again being hit with more criteria from lenders as the credit crunch becomes solidified in 2008. Not only have 100% and 125% mortgages been pulled from the shelf, now many lenders require a minimum of 10 per cent deposit in order to qualify for credit. It is now highly recommended to save as much as possible for your deposit and improve your credit history before applying... Read More
March 3, 2008

Read all Mortgage Articles

Personal Mortgage Centre - Tips & Information

• Mortgage Basics
• Remortgaging - The Basics
• Reasons to Remortgage
• Interest Only Mortgage - A Quick Guide
• Home Information Packs (HIPs) - A Brief Explanation