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Which catagory do we come under for mortgages
Debsy72_2
Posts: 7 Forumite
We had a mortgage last year but paid it off when we moved into a 'stopgap' property. We are now in the market for a mortgage again as we've seen a new house.
Are we first time buyers or do we fall under the homemover catagory even though we don't have a mortgage.
Deb
Are we first time buyers or do we fall under the homemover catagory even though we don't have a mortgage.
Deb
0
Comments
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I think (and will stay corrected by others) if you have not had a mortgage in the last 6 to 12 months you are classed again as a FTB.0
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Different lender have different interpretations - best bet is to ask the lender if you are going and applying direct. There is very little difference, if at all, in deals between the two classificationsI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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In most cases the rates differ based on deposit size not FTB status
If it is an issue , then again in most cases ( not all) FTB means exactly that - not owned ( or usually really just mortgaged ) beforeAny posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.0
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