Right to Buy Mortgages are available for council tenants who wish to buy their property from the local authority, a non-charitable housing association or a housing action trust. You will usually be offered the house at a discount from the open market value, making it a more affordable option.

In order to qualify for the mortgage, you must be the legal tenant of the property and have lived there for two years. Your discount will be tied to the amount of time you have lived in the property. After two years, your discount will be 32% of the purchase price, which grows by 1% a year to a maximum of 60% for a house or 70% for a flat. There is also a cash limit on the discount, depending on the area you live.

To use the scheme, you must approach your landlord who will arrange for a valuation to be carried out on the property and then confirm the asking price. You will then be subject to the terms of any lenders who offer Right to Buy mortgages.

Other advice topics to look into: right to buy brokers, council intermediary, tenant advice