FTB status or not?

Bill_Stickers

When applying for a mortgage i was under the impression that as i don't currently have a mortgage i would be classed as a first time buyer?

I've been told by a broker that as i had a mortgage in my name 8-10 years a go that this will show up on a credit check that i'm not a first time buyer and thus won't benefit from improved interest rates and offers.

The broker also says that if i'm put forward as a 1st time buyer it will flag up and the application won't go through.

Does anyone know what my situation is?

lee111s

Depends on the lender. Some will class you as a FTB if you've not held a property in the last 3 years. Others may be longer.

kingstreet

Different lenders have different attitudes;-

- no property owned ever
- one applicant out of two never owned
- no property owned in the last year, three years, five years etc.

You are going to have to check the criteria of the lenders you are considering.