First time buyer or not?

Pufzy

If you have been a home owner before can you get first time buyer offers etc ?

We will be going from rented accom to buying will we qualify for first time buyer offers?

Cheers for any feedback.

:j

SLAMMER_2

apparantley some lenders will allow this.

Lord knows why though. If you've had a mortgage before how can someone be a 1st time buyer?

Other people will know more but i think you may be eligible, by some freak of nature.

Pufzy

Oh I do hope so. :-)

VIGILANT22

normally a break of 5 years to be considered again as ftb

SLAMMER_2

i am not doubting you for one minute.

But i just can't fathom that out. The clue is in the title 'first time buyer'.

Astonishing.

(not your post the fact that you are classed as a first time buyer after 5 yrs).

Pufzy

If not classed as a 'first time buyer' , we should surely then get a 'remortgage rate' ?

VIGILANT22

QUOTE: we should surely then get a 'remortgage rate' ?

Why what are you remortgaging?

You remortgage a property you own...

VIGILANT22

SLAMMER wrote: »

i am not doubting you for one minute.

But i just can't fathom that out. The clue is in the title 'first time buyer'.

Astonishing.

(not your post the fact that you are classed as a first time buyer after 5 yrs).

Agree 100%..:)

SLAMMER_2

Pufzy wrote: »

If not classed as a 'first time buyer' , we should surely then get a 'remortgage rate' ?

your not remortgaging, your buying a new property, i assume.

don't get hung up on what you are. The rates are generally the same whether 1st time buyer, remortgaging or purchasing.

Pufzy

Made a decision to look for a bigger rental, to make it more like home, rather than squished into a smaller house to keep down rent. We have seen homes for only £55 more than we are paying and feel if we are 'more at home' the urgency to be home owners again will be less. More leisurely pace more money in the deposit pot, that is the idea now.

Pufzy.
x
:-D

inca_2

Sounds like a decent idea, the more you can put into the savings pot, the bigger deposit, the better the rate and the cheaper the mortgage. In ref to your other question, if you're not a first time buyer you're a next time buyer but like Slammer pointed out, whilst there may be some deals for FTBs around, there are also plenty of house purchase deals that are good rates and some lenders have no differential in rates/fees between being a first time or next time buyer.