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Paying your home loan

Unless you are going to buy your home with cash, you will need a loan called a mortgage. There are various kinds of mortgage which banks, building societies or financial advisors can explain.

The amount you would need to borrow would depend on the full market value of your home, less any discount you may be entitled to under Right to Buy, less any cash you can put towards the purchase. Your home would be at risk if you did not keep up repayments on your mortgage, and we would not have to give you another tenancy if you lost your home in this way.

If you lost your income through unemployment, you would not normally receive Income Support for the first nine months. The Income Support you would be entitled to claim would only be for the mortgage interest payments, and may not cover the full amount.