First Time Buyer or not

qwerty_12345

Hi,

I was just wondering if anybody could offer me some advice...

Last year, I went on a mortgage with my Dad - my Mum worked part time so they couldn't get the mortgage they wanted for the house they wanted to buy even though they could afford the repayments. My name is down on the house, but I don't pay a penny.

I'm now looking at buying a house with my partner - he is a first time buyer. When I first agreed to go on the mortgage with my Dad, I was led to believe that I could be a first time buyer again. I've recently had a chat with a mortgage advisor from Halifax who informs me that I can now get no form of FTB rate as my name has been on a mortgage so I will never be classed as one again.

I know its probably a daft question, and I apologise in advance but is this the case with all mortgage lenders, or is this just a Halifax rule? I've started the ball rolling to come off my Dad's mortgage and hopefully that should be sorted shortly.

Thanks in advance.

herbiesjp

This will be the case with most mortgage lenders, some however will class you as a FTB if you have not been on a mortgage in the last 12 months.

However it does not really make much difference in terms of the rates available - you may not be able to get deals with FTB incentives, but the rates on these are normally a fair bit higher

HTH

Mr_helpful

Lenders all have different rules and FTB products are not always as good as what they are cracked up to be
Speak to an independent Mortgage Broker that offers a fee free option

qwerty_12345

Thanks a lot for your comments. I appreciate it