When buying a council property at a discounted price, would you need to put a deposit on the house?
For example...if the house is worth £100k and you get £25k discount...therefore requiring a mortgage for £75k. would you need to put a deposit down, or would this not be required with there being £25k equity in the property?
if this is the case, would you be able to take a mortgage for upto 90% of the value, which in this case, would be £90k?
thanks
