How Does the Right to Buy Scheme Work?
The Right to Buy scheme allows eligible council and housing association tenants to buy their rented property at a discounted price. The longer you’ve lived in the property, the bigger the potential discount sometimes up to 70% of the home’s market value (capped at £24,000 in Hull and East Yorkshire), depending on how long you’ve been a tenant and the property type. Here’s how it works:
Check if you’re eligible:
You must have been a public sector tenant for at least three years (it doesn’t have to be consecutive) and the property must be your main home.
Apply to your Landlord (local council or housing association):
You’ll complete the Right to Buy form (RTB1) and submit it to your council or housing association.
Receive your offer:
Your landlord will respond with an offer letter showing the property's market value, the discount amount, and the price you can buy it for.
Secure a mortgage:
Once you accept the offer, that’s where we come in. We’ll help you arrange your Right to Buy mortgage in Hull to finance the purchase often using your discount as your deposit.
Do I Need a Deposit for a Right to Buy Mortgage?
One of the main benefits of the Right to Buy scheme is that your discount can often act as your deposit, meaning you can buy your home without the need for a deposit from your own funds. For example:
If your home is valued at £150,000,
And your discount is £40,000,
You only need a mortgage for £110,000 — effectively a 27% deposit in the lender’s eyes.
Your current lender’s options don’t suit your next move
That means, in many cases, you don’t need additional savings to get started.
However, the exact amount required varies depending on the lender and your personal circumstances. Our advisers will check which lenders accept the discount as a full deposit and whether adding any perso
Why Choose Green & Green for Right to Buy Mortgages in Hull?
Choosing to buy your council property is a big decision, and having the right support makes a world of difference. At Green & Green Mortgage and Protection, we:
Compare 80+ mortgage lenders to find a deal that suits your circumstances.
Provide local Hull-based advice from a trusted, independent broker.
Handle your Right to Buy mortgage application from start to finish.
Liaise with your lender, solicitor, and local council to keep things moving.
Offer clear, honest communication at every step — no jargon, no surprises.
Our team has helped many tenants in Hull, Cottingham, Beverley, Hessle, Willerby, and Anlaby successfully purchase their council homes.
FAQs — Right to Buy Mortgages in Hull
Q: How does the Right to Buy scheme work?
It lets eligible council or housing association tenants buy their rented home at a discount based on how long they’ve been renting. You apply through your landlord, receive a formal offer, and then arrange a mortgage often using your discount as your deposit.
Q: Does the lender need to value the property for a right to buy mortgage?
Yes. Lenders carry out an independent valuation to ensure the property’s market value, loan amount, and discount are all accurate. It also confirms the property meets their lending criteria.
Q: Do I need a deposit for a Right to Buy mortgage?
Often, not. Your Right to Buy discount can act as your deposit. Some buyers choose to top this up with savings for a better mortgage rate, but in most cases, no upfront deposit is required.
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