I have married a person with a mortgage. Can I use first time buy scheme?

bart1984

Dear All.

I would like to buy a property and taking advantage of first time buyer scheme.

I never had a property before.

Week ago I got married in Poland, with woman who is Polish and have mortgage in Poland since last 4 years, she never lived in this property before, she bought it with intention to move in, but it never happened.

I have a quite good job and last year managed to save money for 10% deposit.

Now it is a time when I finally would like to buy property I waited for so long, and just realized I may not be able to as my wife owns one in Poland.

Has anyone have any knowledge in this subject? Would I/us would be eligible for First Time buyer scheme under such conditions?

Can you please give us some advice.

Thank you.

Bart

duchy

Is the house you want to buy in Poland?

Caladan

Don't know about current schemes, but I know the previous FTB stamp duty exemption only counted if NEITHER applicant had ever owned a property anywhere in the world.

bart1984

duchy wrote: »

Is the house you want to buy in Poland?

I want to buy house in UK.

bart1984

Caladan wrote: »

Don't know about current schemes, but I know the previous FTB stamp duty exemption only counted if NEITHER applicant had ever owned a property anywhere in the world.

Can I apply as a single applicant ? Currently my salary is big enough to apply for a mortgage I want as a single applicant.

Will it matter if she is my only recently registered wife ?

shop-to-drop

What first time buyer scheme is it?

bart1984

shop-to-drop wrote: »

What first time buyer scheme is it?

I did not look into any particular ones, I thoguht the rules are general. I wanted to find out firts whether I would be eligible enough.

shop-to-drop

Go to a mortgage adviser and find out the best mortgage for you. Being a first time buyer will probably be irrelevant if the best deal is for a first time buyer then the mortgage adviser will be able to tell you if you will qualify for it.

bart1984

shop-to-drop wrote: »

Go to a mortgage adviser and find out the best mortgage for you. Being a first time buyer will probably be irrelevant if the best deal is for a first time buyer then the mortgage adviser will be able to tell you if you will qualify for it.

Would you suggest independent mortgage advisor, or perhaps the one from my bank?

Thank you.

kingstreet

People who work for banks sell only their employer's products.

If you want a Ford, go to a Ford dealer. Once there, do not expect to hear good things about Vauxhall...!

Lenders use different terms to describe a first time buyer. Nationwide's is not to have owned a property in the last three years. Others say only one year. Halifax treats you as a FTB as long as one of you hasn't owned before.

Only a whole market or independent broker will be able to establish the right product and lender for you and your individual circumstances, if you do not feel confident in finding this for yourself. This can be about;-

FTB Status
Mortgage rate
Rate type - fix/tracker etc
Term
Early repayment penalties
Initial fees & costs
Flexibility - overpayments, underpayment, payment holidays
Repayment method

and so on...