We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

FTB mortgage products - qualification ?

Shrimp_Stu
Shrimp_Stu Posts: 155 Forumite
in Mortgages & endowments
A friend of mine is selling his house and will then be buying another house after he has completed his sale.
The thing is he wont be buying his next house straight away so when he goes to Mortgage Lenders will he be classed as a FTB ? Or because he has had a mortgage before willl he be able to get special products that are linked to FTB 's?
Are FTB's exclusively those who have never had a mortgage before ?
Thanks
S

Comments

  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    A lot of lenders do not make a distinction between FTBs and home movers - rates available for FTBs are not really better than those for home movers either, so I do not think it will make much of a difference
    I am a Mortgage Adviser
    You 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.
  • MarkyMarkD
    MarkyMarkD Posts: 9,912 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    As herbies says, not that many lenders currently offer FTB-only deals. But he wouldn't qualify for them, as it's obvious from his credit history that he isn't an FTB and he'd be fraudulent if he claimed that he was.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.1K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.2K Spending & Discounts
  • 245.2K Work, Benefits & Business
  • 600.8K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 258.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture