Saracens Blog

Your guide to government schemes that help you buy a home

Mortgage Solicitor in London

There are several popular government schemes that offer financial help to people who cannot afford to buy a house. Saracens Solicitors has worked with many of these and can give you guidance on the latest terms and eligibility criteria for each when you choose us as your mortgage solicitor in London.

Right to Buy

The Right to Buy scheme gives council tenants the opportunity to buy the property that they are living in at a substantial discount, compared to market rates. You could pay up to £78,600 less for you home, or £104,900 if you live in London. This is designed to get people onto the property ladder and allows them to start building an asset for themselves and their families.

Saracens Solicitors can work with you to access the Right to Buy scheme and secure a mortgage, when you engage us as your mortgage solicitor in London. We have an experienced team who can guide you through to completion. We understand that many people who want to take advantage of the Right to Buy scheme are first time buyers and that buying a property is a big decision. We make sure you feel comfortable at every stage of the process by keeping you well-informed.

Shared ownership and ‘staircasing’

If you cannot get a mortgage for the full amount of your home, you may be able to take advantage of shared ownership. This is where you buy a portion of your home, usually from a council or housing authority, and pay rent on the rest. You can opt to buy a larger share of your home in the future until you reach 100% ownership. This is known as ‘staircasing’ and it is a useful way to get on the property ladder. As your mortgage and ownership of your home increases, your rent payments go down.

Saracens Solicitors can guide you through the process of acquiring a share in your property when we act as your mortgage solicitor in London. We help you to understand the terms of your agreement and the impact it will have on your monthly outgoings. We can also advise on the terms of the lease, for example, how much of any service charges you remain liable for after your part-purchase.



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