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Am I a first time buyer?!?
chiefdave
Posts: 104 Forumite
I think i am but i'm not sure! Basically my wife landed a big inheritance and with that paid outright for the flat we moved into (current value 90-100K).
now we're considering moving to a place around 150K so the idea was i'd take out a mortgage for around 80K (pay off some debts at the same time and free up some money for her as she's thinking of going back to uni).
should i take out a mortgage as a first time buyer, if so would they class the contribution from my other half, which would basically be 70K, as a deposit? or would i be a first time buyer looking for 100% mortgage for my share of the house?
now we're considering moving to a place around 150K so the idea was i'd take out a mortgage for around 80K (pay off some debts at the same time and free up some money for her as she's thinking of going back to uni).
should i take out a mortgage as a first time buyer, if so would they class the contribution from my other half, which would basically be 70K, as a deposit? or would i be a first time buyer looking for 100% mortgage for my share of the house?
Learn from the mistakes of others - you won't live long enough to make them all yourself.
0
Comments
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Not sure whether you're counted as a FTB, but there's no question that the 70K is a deposit, so your LTV will be about 55%, which is pretty low and means that you should have access to a lot of (relatively) good deals.0
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