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Am I a first time buyer?

KPiG
KPiG Posts: 3 Newbie
in Mortgages & endowments
Technically I'm not. I have owned 2 different properties in the past, always keeping up with mortgage payments and never having any problems. But I sold my flat a few years back to go and live abroad.

Now I am back , with a deposit, and ready to buy a new place. However, when I fill in my details looking for a mortgage quote I usually have to define myself as 'first time buyer', 'remortgage', 'buy-to-let' or similar.

Whilst classing myself as a first-time buyer might open up a wider range of products for me, it fails to take into account that I have owned property before and was able to keep up repayments on it. Does that count for anything? Should I be classing myself differently?

Thanks

KPiG

Comments

  • cattie
    cattie Posts: 8,847 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    If you owned property just a few years ago then you will not be considered a ftb. You will be on a system somewhere as once having had a mortgage.
    The bigger the bargain, the better I feel.

    I should mention that there's only one of me, don't confuse me with others of the same name.
  • The_J
    The_J Posts: 1,250 Forumite
    If you have not had a mortgage in the last 3 years you will be classed as a FTB by Nationwide and be able to access their FTB range.

    I don't know of anyone else with deals currently where it would matter.
    The J is a Financial Advisor-This site doesn't check anyone's status and as such any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Always seek professional advice.
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    Are there any ftb products that are actually better?

    They are usually frilly window dressing that invariably cost the same or more than home mover products.
  • The_J
    The_J Posts: 1,250 Forumite
    Nationwide knock £500 off the fee
    The J is a Financial Advisor-This site doesn't check anyone's status and as such any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Always seek professional advice.
This discussion has been closed.
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