do i qualify for a first time buyers deal?

janiebaby3

I have recently divorced and am currently renting, I have a deposit for another house, so I dont have a mortgage at the moment or own a house, I just have a deposit to buy another house. Would I qualify for a first time buyers mortgage or not?? sorry if this sounds like a silly question!!

holly_hobby

Officially if you have ever held an interest in a property, be that via a mortgage (single or joint), inheritence, gift etc - you are not a first time buyer.

However, when we are looking at lenders as their First Time Buyer mortgage deals/products, some lenders go along the official route as above, whilst others will consider you a FTB for their purposes, if you have not held a mge for a minimum period of between 12 - 6 mths prior to the application.

So it really is a case of asking your chosen lender the question, and whether given any historical ownership they would still consider you a FTB - of course this only makes a difference if you are actively applying for FTB deals.

Hope this helps

Holly