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Will STR'ers qualify for FTB'er deals?
Comments
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The question for me (as an STR as it happens, partly because I expect prices to fall but partly because I moved from a town where I could afford to buy to one where I couldn't) is whether we will be able to wangle any of these Government FTB deals. I think that may be trickier...
Which government FTB deals would these be please?“A journey is best measured in friends, not in miles.”
(Tim Cahill)0 -
Which government FTB deals would these be please?
http://www.communities.gov.uk/housing/buyingselling/ownershipschemes/homebuy/
Was what I mainly had in mind.Hurrah, now I have more thankings than postings, cheers everyone!0 -
First time buyers: households who can't afford to buy their own home and who have been identified as eligible and prioritised for assistance within the region by the Regional Housing Boardshttp://www.communities.gov.uk/housing/buyingselling/ownershipschemes/homebuy/
Was what I mainly had in mind.
So, iwth an STR pot of cash squirrelled away - no, unless you deliberately lie and defraud them.
OR ... there IS a genuine/legal way to qualify for this.
Simply send all your savings to me. Then you would not be able to afford to buy your own home and could continue to be identified as eligible and prioritised for assistance. Which I can also help you with.
Please follow the following instructions:
1] send me all your money
2] you will then qualify as mental, so should get help under a disability
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Ha. I wish I had an STR pot of cash squirrelled away. I sold for £91,000, of which £72,000 was a mortgage and £8,000 I owed to my parents. Then the estate agents and lawyers took their share. My life savings have just tipped the £20,000 mark this month. Rich I am not.Hurrah, now I have more thankings than postings, cheers everyone!0
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Debt_Free_Chick wrote: »In my (limited) experience, lenders class you as a FTB if you have no property to sell. If you sold your property months ago and banked the equity, then you would be a FTB. It's nothing to do with if you've ever owned a property - more to do with if you currently have a property to sell.
So if I turned up with a wad of cash having sold my Spanish house (but still keeping my UK one) I'd be classed as a FTB?(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton0 -
seven-day-weekend wrote: »So if I turned up with a wad of cash having sold my Spanish house (but still keeping my UK one) I'd be classed as a FTB?
I think it's highly likely they would be happy to give you a FTB deal, if you didn't need your UK house to sell in order to complete on your planned new purchase (and if you plausibly implied that you were planning to live in the one you were purchasing).Hurrah, now I have more thankings than postings, cheers everyone!0 -
Hi PasturesNew can you please PM me your address so I can send a cheque, or would you rather have a bank transfer?0
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With respect to the Homebuy scheme, there are circumstances where you can qualify even if you've owned before. They accepted me (and my husband), even though I've had a mortgage before because I owned the property jointly with an ex, and had to sell when we broke up and I moved out of the area. I ended up with about the same amount of cash as you (and we have added significantly to it since). We haven't found a place to buy yet, so who knows if we'll actually get the funding, but we had no problems getting accepted onto the scheme.
If you're not sure you qualify, apply anyway and they'll tell you.0
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