Ex Local Authority Mortgages for First Time Buyers

Ex local authority flats and houses are frequently a realistic entry point for first time buyers, since prices are often lower than comparable privately built properties in the same postcode. First time buyers should be aware that some lenders apply stricter deposit or Loan to Value requirements on ex local authority flats, particularly in blocks with a high proportion of socially rented units.

We work with lenders who take a proportionate view of first time buyer applications on ex local authority property, provided the block’s construction and tenure meet lending criteria. Government-backed schemes and standard residential mortgage products can both apply, depending on individual circumstances.

If you’re a first time buyer looking at an ex-council flat or house, get in touch before your offer is accepted so we can check the property is mortgageable with your intended lender.