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Right-to-buy council house - can get a mortgage with a 75% deposit?

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  • Right-to-buy council house - can get a mortgage with a 75% deposit?

    I'm posing this question because an uncle of mine living in Newcastle has been offered a 50% discount under his council's right to buy scheme (he's lived there for 10 or so years).

    Valuation of his property is approx £100,000. With discount this comes down to approx £50,000. He has £25,000 savings as a deposit, although he doesn't work due to a disability and is on a pension. He's 59 years old.

    Given all this, my question is - will it be possible for him to get a mortgage for £25,000?

    I figure his savings plus the council discount amounts to the equivalent of a 75% deposit. Myself and other members of his family can be guarantor for his loan if needed, although we know he would be able to meet the repayments without a problem.
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