Mortgage and House Buying Questions

Excited13

Hi everyone

I've been a long time lurker but due to some changes I could really do with some advice.

I've been looking at some mortgages but wondered if I would be classed a FTB. A bit of history I bought a house 3 years ago with ex which was sold in April and the mortgage was cleared. I'm currently renting so therefore should I be looking at FTB mortgages?

Secondly the funds for my deposit aren't sue to come through for another 4-6 weeks so do I have to wait until then to start seeing mortgage advisors?

Finally I'm looking at a range of properties but I think a newish build (couple of years old) due to the electrics and heating being new and hopefully lower running costs. Are there any major pitfalls with new properties? I've been used to living in Victorian Terraces or new build flats for the last 5 years.

Thanks in adavance

dimbo61

You are not a FTB as you have already owned a property but that is not a bad thing!!
You can look at mortgages now as long as you have an idea of the size of the deposit?
As for new or old properties Well that is your choice
I live in a 10 year old house with UPVC double glazing, modern gas heating, electrics etc
You may have small rooms, small gardens limited parking etc
Having a history of paying a mortgage is good
Good Luck

bryanb

Loking at Nationwide mortgages yesterday, it seems they class someone who hasn't had a mortgage in the past 3 yrs as FTB. Seems ridiculous that I could be FTB as I bought present house for cash 20 years ago.
I wasn't actually considering a mortgage, just trying to get their best ISA rate, which apparently is only for FTB savers.

Yorkie1

Each lender will have its own definition of what constitutes a FTB.

I would not focus exclusively on 'FTB' products as they will not always be better than another lender's generic products.