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New mortgage application
AndyGlasgow
Posts: 1 Newbie
I have been renting for the last 5 years although did have a mortgage prior to this which was paid off in full.
I am now looking to buy a house again and take out a mortgage. My query is, could I be considered a first time buyer as I have not had a mortgage for 5 years? Technically I know I'm not but I have been told I may be considered a first time buyer, but I don't really understand that?
If not what would be the best type of mortgage for me to go for?
Many thanks
I am now looking to buy a house again and take out a mortgage. My query is, could I be considered a first time buyer as I have not had a mortgage for 5 years? Technically I know I'm not but I have been told I may be considered a first time buyer, but I don't really understand that?
If not what would be the best type of mortgage for me to go for?
Many thanks
0
Comments
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Lenders normally offer first time buyer products if you have never owned a property or not owned one in recent years (for example 2 or 3 years).
There are some differences but that is the general rule.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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