Buy To Let Ex-Council Flat
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Buy To Let Ex-Council Flat
Sam Bull talks to us about securing a Buy to Let mortgage for an ex-council flat.
Can I rent out my ex-council flat?
Yes, you can rent out your ex-council flat, assuming that you’re the owner of the property and there are no restrictions. This is also assuming that you haven’t purchased the property through the Right to Buy scheme within the last five years.
Can I get a Buy to Let mortgage on an ex-council flat?
The majority of mortgage lenders are happy to consider Buy to Let mortgages on ex-council flats. This will be subject to the standard mortgage valuation, where the valuer confirms the property is readily saleable and mortgageable.
What are the disadvantages of buying an ex-council flat?
While buying an ex-council flat can be a great investment, there are some potential downsides:
- Desirability & Resale Value: Ex-council properties may be less desirable, which can impact resale value.
- Lender Restrictions: If the block is mostly council-owned, it might be harder to sell in the future, as fewer mortgage lenders may be willing to lend.
- Maintenance: Some ex-council flats, especially older ones, can be poorly maintained. A survey is crucial for potential buyers to make an informed decision.
- Mortgage Difficulty: High-rise ex-council flats or those with non-standard construction (such as concrete panel systems or balcony/deck access) may be harder to get a mortgage.
Are there many lenders who look at Buy to Let for ex-council flats?
Yes, many lenders consider Buy to Let mortgages for ex-council flats, including high street lenders like BM Solutions, NatWest, The Mortgage Works, and Virgin Money [correct at the time of recording this podcast in August 2025].
Are ex-council flats valued lower?
Ex-council flats are usually valued lower than similar privately-owned properties. This is potentially due to social stigma, resale concerns, and, as mentioned previously, the potential for non-standard construction types.
Is it hard to sell an ex-council flat?
Ex-council flats can be harder to sell. There may be a more limited demand for buyers, which might be due to potential mortgage restrictions – because of the construction type or potential negative perceptions of the property.
However, if the property is priced correctly and in a good location with strong transport links, this helps it to be more readily saleable.
Will I have trouble remortgaging my ex-council flat?
If you already have a mortgage on your ex-council flat, this will give you the confidence that there are lenders happy to lend on this type of property and remortgage options should therefore be more readily available.
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Everyone’s different. You might be self-employed. You might have some credit history issues – whatever your situation, we will find the most suitable product available to you from across the whole market.
How do I check or find council flats in my area?
It would just be the normal route of looking at property portals like Rightmove and Zoopla – there’s no specific portal for ex-local authority flats.
What if I am self-employed; can I still get a Buy to Let mortgage on an ex-council flat?
Mortgage lenders are quite happy to offer Buy to Let mortgages to self-employed applicants looking to purchase an ex-council flat. Some lenders may have a minimum income requirement – £25,000 for example – but this would be the same whether the applicant was employed or self-employed.
What if I have bad credit; can I still get a Buy to Let mortgage on an ex-council flat?
There are mortgage lenders who can consider Buy to Let mortgages on ex-council flats to applicants with bad credit. This will depend on how recent the bad credit is and what shows on the credit report.
To start with, we would request a copy of the applicant’s credit report and find out exactly what the issues are. Then we’ll be able to match them with an appropriate lender that can consider the bad credit.
What if I am a first-time landlord; can I still get a Buy to Let mortgage on an ex-council flat?
Yes, first-time landlords can get Buy to Let mortgages on ex-council flats; however, lenders often have different criteria for first-time landlords.
Some lenders need first-time landlords to already be a homeowner or have a minimum income level – for example, £25,000.
What are restrictive covenants? Are they common on ex-council flats and can the council remove them?
Restrictive covenants often apply to people who have purchased their council property through the Right to Buy scheme, specifically for the first five years of ownership. These covenants can restrict how the property is used or sold. You can speak to the council you purchased the property from, but it’s unlikely they would be removed.
How can a mortgage broker help? Is there anything else to add?
I would recommend anyone looking to buy an ex-local authority flat with a Buy to Let mortgage to work with a mortgage broker – as they’ll have experience on how to find the most suitable lender.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS.
THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE MOST BUY TO LET MORTGAGES.
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