The council right to buy scheme, without being embroiled in any controversy regarding who set off council right to buy scheme, was indeed momentous. It led many people, who would never have thought (capable would be a more appropriate word to describe their situation) to have their own homes.

So what is council right to buy scheme? Council right to buy scheme is a scheme under which council tenants are eligible to buy house in which they have been living.

Therefore, what is that which distinguishes council right to buy scheme from other schemes? It is different because customer would have to pay much lesser than what he would have paid had he bought house in open market. This is because customer is entitled to a discount for number of years that he was staying in house as a tenant.

The rate of discount varies with type of residence and location of residence. A person residing in a house will be eligible for a discount of up to 30% with a further discount of 1% for every year lived as a tenant of house. In cases of flats or maisonettes rate of discount ranges from 44% to 70%, but not exceeding £38,000. The maximum rate of discount is admissible only in a few localities like posh London and Southeast areas of England.

To avail scheme one must be a council tenant. A council tenant is a secured tenant who has been living since 5 years or more (the limit has been changed from 2 years with effect from 18th January 2005) in any of following: •District council •London borough council •Non-charitable housing association or other registered social landlord •Housing action trust. •County council or another similar body

Ever thought how much have you paid in total. If accumulated, rent would have been enough to buy you a house. If idea dawns upon you, then continue reading for more information on first time home buyers mortgage which can be a key to your first home.

A first time buyer mortgage can be a perfect option for financing your first home. It is specially built for first timers. The first time buyers are generally new to their careers. They did not have time to build up savings to help them pay for their home.

However, some amount of deposit will be required for getting mortgage. Some lenders are ready to finance whole of house by paying 100% on mortgage, if first time buyer is not able to pay deposit. Nevertheless, they will charge more for their services.

First time buyers are a hot favourite with mortgage providers. This is because they know that this is their first deal and if treated well customer would come again and many more times after that.

First time buyers do not require any special treatment. They require a mortgage which allows them to purchase their first house without much of difficulties- both immediate and future. But they seldom get treatment they desire.