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        Updated: April 17, 2024

        Best Right to Buy Mortgage Rates Compared

        Want to take advantage of the government’s Right to Buy scheme for public sector tenants? We look at some of the best rates available for Right to Buy mortgages.

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        We can help! We know everyone's circumstances are different, that's why we work with mortgage brokers who are experts in Right to Buy mortgages. Ask us a question and we'll get the best expert to help.

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        No impact on your credit score

        The government’s Right to Buy scheme has given thousands of public sector tenants the chance to get on the property ladder by buying their own homes at a heavy discount on the market value, but if you’re thinking of using the scheme, what sort of interest rates can you expect?

        Take a look at our rates table below to get an idea of the deals currently available.

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        Looking for more rates and deals?

        We can match you with a mortgage broker who can provide you with up-to-date bespoke rates and deals from across the entire market and help you secure the best ones available.

        Last updated August 2023

        The rates quoted above were correct at the time of writing and are subject to change at any time at the lender’s discretion. Speaking to a mortgage broker is the best way to keep track of the rates available at any given time.

        How to compare Right to Buy mortgage rates

        The best way to compare Right to Buy mortgage rates is to use a mortgage broker who specialises in this government scheme. Make an enquiry and we’ll match you with an advisor who has the exact knowledge and experience that you need on your side.

        Below, we’ve listed just a few of the benefits of using a mortgage broker to compare deals:

        • Access to the entire Right to Buy mortgage market
        • Exclusive rates and deals
        • Bespoke advice about which one to choose
        • Help completing the perfect application

        Your initial consultation with the broker we match you with will be free with no obligation to proceed, and it won’t leave any marks on your credit report.

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        Are interest rates any different through the scheme?

        Not generally. In most cases you should be able to secure a lender’s standard rates for your Right to Buy mortgage, although of course rates do vary depending on your circumstances.

        For a Right to Buy mortgage there will be a couple of key factors that will influence the rate you’re eligible for, namely the amount of discount you qualify for and how this translates to your LTV, and your credit history.

        The larger the discount you can get under the Right to Buy scheme, the lower your LTV and the better the rates you’re likely to be eligible for. Similarly, if you have any cash of your own to contribute towards the deposit, this could help to make your Right to Buy mortgage cheaper.

        Your credit history will affect your rates just as it would with any mainstream mortgage – if you have significant credit issues you should seek the help of a broker who will be able to identify a more specialist lender.

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        Other costs and fees to factor in

        When you buy a house there are a lot of costs that go alongside the basic mortgage so even if you’re looking for a no deposit Right to Buy mortgage, you’ll still need some money set aside.

        These costs can include:

        • Mortgage arrangement fees
        • Valuation and survey costs
        • Legal fees

        You may find that many lenders offer deals with low or no arrangement fees and sometimes with free valuations and legal fees thrown in, so if cash is an issue for you then let your broker know that these sort of deals would appeal.

        Why use Online Money Advisor?

        Because using a broker who specialises in Right to Buy mortgages is the best way to get the most favourable deal through the scheme, and we can match you with such an advisor for free!

        Getting a Right to Buy mortgage can feel complicated and stressful but it doesn’t have to be if you have the right support in place. Find a broker who specialises in Right to Buy mortgages and you can hand over the whole process to them, stress free.

        Give us a call on 0808 189 0463 or make a quick online enquiry and we can do a quick assessment of your needs and match you with the best broker for you.

        Ask Us A Question

        We can help! We know everyone's circumstances are different, that's why we work with mortgage brokers who are experts in Right to Buy mortgages. Ask us a question and we'll get the best expert to help.

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        Pete Mugleston

        Pete Mugleston

        Mortgage Expert, MD

        About the author

        Pete, an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete found great success in going the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained, coupled with his love of helping people reach their goals, led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.

        Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for OMA of course!

        FCA Disclaimer

        *Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us as well as any of our own are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

        Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.