Di qualify as a first time buyer?

stomachstaple

Hi

I've paid a mortgage off in a house I now rent out to a friend as I have a job in a different city. I intend on buying another house to live in. Do I qualify as a first time buyer?

Thanks 👍

davidmcn

For whose purposes? There is no universal definition of "first time buyer" - though I doubt many include people who currently own another property.

G_M

stomachstaple wrote: »

Hi

I've paid a mortgage off in a house I now rent out to a friend as I have a job in a different city. I intend on buying another house to live in. Do I qualify as a first time buyer?

Thanks 👍

:rotfl::rotfl::rotfl::rotfl::rotfl:

So let's see:

* is this the first house you've bought?

* do you currently own a house?

* do you have a house in Cloud Cuckoo Land?

stomachstaple

Haha thanks for that! I realise I'm looking a bit stupid here so please help me. Am I a remortgage, a
moving house, I get the picture I'm not a first time buyer. All the mortgage tools ask these. Does it matter?

Thanks

Caz3121

you will also need to remember an additional 3% stamp duty if you complete after April as you are buying a second property

alchemist.1

stomachstaple wrote: »

Haha thanks for that! I realise I'm looking a bit stupid here so please help me. Am I a remortgage, a
moving house, I get the picture I'm not a first time buyer. All the mortgage tools ask these. Does it matter?

Thanks

If you are looking at a comparison site for mortgage rates, there should be an option for " home purchase".

kingstreet

Home mover or subsequent purchaser.

stomachstaple

Thanks for the advice everyone. I hadn't considered stamp duty eek!