Are we classed as 1st time buyers?

Ezmondino

Ok - I think this is a daft question as I'm sure we're not 1st time buyers.

My wife and I are looking to get a mortgage.
She is a first time buyer.
I owned a house 5 years again (sold it 3 year ago) with a mortgage. I don't have a mortgage now (rented for the last 3 years).

For our new joint mortgage, are 1st buyer mortgages not available to us even though my partner is a 1st time buyer?

As I said, I presume not!
Thanks.

mandi

Yes .... ...

If you don't have a property to sell then your effectively a FTB regardless of how may properties you may have bought then sold in the past .

It's very confusing though I agree .

Chin

For mortgage products yes.
For stamp duty (if less than £250k) no.

Tiddlywinks

Chin wrote: »

For mortgage products yes.
For stamp duty (if less than £250k) no.

I agree with this.

Yorkie1

You will need to double check the particular T&Cs of any FTB mortgage product for their definition of FTB - just to make sure you're eligible. Each lender will take a different view, although it it fair to say that most are not as strict as the criteria for stamp duty. Chances are, that as you sold 3 years ago, you'll be fine, but don't take anything for granted.

Ezmondino

Thanks very much for your answers, that appears to give us many more options then!:)