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Are we first time buyers???
becca_kirby
Posts: 19 Forumite
Hiya need some sound advice.
My partner and I are looking at buying our first home. Saw an independent advisor and he found us a good deal with RBS/Natwest for ftb on a 2 yr tracker.
Had an offer accepted and rang to apply for the mortgage but are not able to apply as my partner owns a home. :mad:
I know it sounds silly, to me he isnt a ftb, our advisor said that because it he went in with his parents and bought their x council house with cash around 9 years ago that it would not be an issue, but that does not seem to be the case.
So the question is as he doesnt live there and has no mortgage, is he a ftb? Read somewhere that you can be without a property for 12 months and be classed as a ftb?
Im worried we will struggle to find a mortgage we can afford and may have to pull out.
My partner and I are looking at buying our first home. Saw an independent advisor and he found us a good deal with RBS/Natwest for ftb on a 2 yr tracker.
Had an offer accepted and rang to apply for the mortgage but are not able to apply as my partner owns a home. :mad:
I know it sounds silly, to me he isnt a ftb, our advisor said that because it he went in with his parents and bought their x council house with cash around 9 years ago that it would not be an issue, but that does not seem to be the case.
So the question is as he doesnt live there and has no mortgage, is he a ftb? Read somewhere that you can be without a property for 12 months and be classed as a ftb?
Im worried we will struggle to find a mortgage we can afford and may have to pull out.
0
Comments
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Alot will depend on the lenders definition for a FTB. This varies between lender to lender.
So does he still own his parents house outright?0 -
He does not own it outwrite, he paid about 40% of the price paid.0
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He's not a FTB.
He owns the other houseI am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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