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Stupidly optimistic question!

Person_one
Person_one Posts: 28,884 Forumite
Tenth Anniversary 10,000 Posts Combo Breaker
in House buying, renting & selling
If you've owned a property jointly with someone else briefly, but are now wanting to buy on your own, is there any slim chance that you might be seen as a first time buyer?

I'm not thinking stamp duty, more the Santander FTB savings account!

Comments

  • ILW
    ILW Posts: 18,333 Forumite
    Depends how closely they check.
  • sunshinetours
    sunshinetours Posts: 2,854 Forumite
    What do the terms and conditions say?
  • googler
    googler Posts: 16,103 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Depends on their T&Cs (suggest you get these and READ THEM ALL), how they check up on you, and how seriously they (and you) take mortgage fraud.....

    However, if you do get past the application, get your false FTB mortgage, and fast-forward to a few years later.....

    If they find out at a later date that you lied on your application, what could they do? "Terminate your mortgage agreement, and repossess your house" is the first thing that comes to mind...... Do you want this possibility hanging over you?
  • sunshinetours
    sunshinetours Posts: 2,854 Forumite
    Googler, isn't he asking about a savings account?
  • Person_one
    Person_one Posts: 28,884 Forumite
    Tenth Anniversary 10,000 Posts Combo Breaker
    sunshinetours wrote: »
    Googler, isn't he asking about a savings account?

    Yes I was! I don't want a FTB mortgage, they're awful, I just want some interest on my deposit!
  • DVardysShadow
    DVardysShadow Posts: 18,949 Forumite
    googler wrote: »
    Depends on their T&Cs (suggest you get these and READ THEM ALL), how they check up on you, and how seriously they (and you) take mortgage fraud.....

    However, if you do get past the application, get your false FTB mortgage, and fast-forward to a few years later.....

    If they find out at a later date that you lied on your application, what could they do? "Terminate your mortgage agreement, and repossess your house" is the first thing that comes to mind...... Do you want this possibility hanging over you?
    It is about a savings account.

    As for fraud on a mortgage account, the mortgage definition of FTB is not the same as the stamp duty definition - it all depends on the defintion used. There is a CML definition I believe, which is something like 'has not owned a house for 12 months or more'.

    And on the savings account, not all holders of the account will go on to buy, so they are not FTB either.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • googler
    googler Posts: 16,103 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    sunshinetours wrote: »
    Googler, isn't he asking about a savings account?

    Oops; speed-read that one too fast....... apologetics
  • Richard_Webster
    Richard_Webster Posts: 7,646 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Why is it that people think that because the government have defined "First Time Buyer" for one limited purpose, namely the exemption from SDLT, the definition has anything whatever to do with a Santander Savings Account?

    Santander will have their own definition and that is what OP needs to look at rather than asking on this forum where nobody is likely to have an intimate knowledge of the small print of Santander savings account terms and conditions.
    RICHARD WEBSTER

    As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.
  • googler
    googler Posts: 16,103 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Well, speaking for myself, I just didn't read the OP properly. Sheesh.....
This discussion has been closed.
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