First time buyer requirements?

mermaid85

Hi, I've just been discussing mortgage options on the phone with Santander, and have been told that as I have had a mortgage before, I won't qualify for ftb rates.

Is this the case for all mortgage providers? I bought at 18 and sold at 19, am now nearly 25!! I just find it hard to believe that making a mistake so early on is going to affect me now and had no idea about this at the time, or would have considered buying out my ex a bit more.

getmore4less

Are there any real FTB deals out there.

Big deposit is what you need and don't try for too high a salary multiple.

Fairdo_2

FTB deals aren't really an attraction that they used to be. Most seem only to be geared towards those that don't have as high a deposit as next time buyers, so the biggest consideration for you would be how much deposit you have available. Some Lenders would class you as a first time buyer if you have not held a mortgage in the last 12 months. To be fair though, it's only a name. You would be just as well to look at the open market, but blanket suggestion here is: Speak to a No Fee, Whole of Market Broker and get them to do the research for you.

Good luck:)