Hello people,

So we have almost made our mind up after the research we have done as to the decision we have made about our right to buy mortgage. We are a couple (24 & 21) that have lived in a house under a housing association for the past 3 and a half years. We are having serious talks about our future and have decided that we want to get a mortgage. Luckily my partners father is a mortgage adviser but before we make our mind up I wanted to post our situation here to see if there is any reason why any body that's a bit more financially savvy than us would think that a Right to buy mortgage wouldn't be for us.

So to the facts. As I mentioned we have lived in the current house we do for the past 3 and a half years, it's in an extremely close area to Manchester city centre (15 commute on the Metrolink) and it is a nice neighbourhood we live in. We are living in a 3 bedroom Semi-detached that we got placed into and currently pay £400pcm rent for the both of us. This is obviously excluding council tax, bills etc. My partners father advised if we are happy with the house we are living in then we would be eligible for a right to buy mortgage under the new Government plans put into force in summer 16 (that housing association tenants can now buy there home through right to buy).

We have read if we are eligible and from what I can see we would be. We have not sent off any paperwork as of yet because I wanted a final opinion from a third party (you lot) before we send off anything. At the moment using the RTB calculator they are valuing our property at approx £88,480 and using the RTB discount we would get offered the house for £57,512 so the discount we would get would be £30,968. This is obviously a very rough estimate based on the area's sale figures etc but gives us a rough idea at how much our value would roughly be once we do get it valued. Basing it off this we could pay off and own our own home within 12 years (again approx).

The reason why I another opinion is that this just sounds too good to be true. In today's current house market prices for a 3 bedroom house at this kind of price is very hard to find (as far as I'm aware, again correct me if I'm wrong). So I was wondering if there is anything else that anybody thinks I could have missed or not considered?

Thanks