can you be a First time buyer if you have ever owned a property? ever??

papermoney

I've owned properties in the past and thinking of buying another in my sole name.

Ive been looking on mortgage sites and the options are 1st time buyer/ moving home/ remortgaging.

My parents were classed as first time buyers last year but then they hadn't had a mortgage for about 10 years. Is there a time limit? Has it changed now?

This is not about stamp duty (as it was mentioned on another thread) as the property concerned is less than 150k and in a qualifying area for stamp duty exempt.

Thanks

opinions4u

There is no set rule.

For me it's simple. If you have owned a house before, you're not a first time buyer.

Some lenders will allow applicants to take a first time buyer deal if they are not selling a property. This is a matter for each individual lender, and not something that has a clear law or regulation covering it.

In most cases, first time buyer mortgage deals are no better than other options.

papermoney

Thanks for the reply.

When using online calculators Ive been putting in moving home (even though I wouldn't be - not straight away anyway)