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Mortgage for 2 applicants
kisarvars
Posts: 1 Newbie
MSE,
we are looking at buying a property for ourselves, but we are not sure about the rules around first time buyer mortgages. I currently qualify for a first-time buyer mortgage however the second applicant already has a property in his name. will we still be classed as first time buyers or would i have to be the only buyer to claim the advantages of a first time buyer?
we are looking at buying a property for ourselves, but we are not sure about the rules around first time buyer mortgages. I currently qualify for a first-time buyer mortgage however the second applicant already has a property in his name. will we still be classed as first time buyers or would i have to be the only buyer to claim the advantages of a first time buyer?
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Comments
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It varies from lender to lender.
You need to ask yours, or those you are considering.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Down to the criteria of the lender. There isn't a defined "FTB Mortgage", but some banks offer such products, up to them how they define it.0
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I presume you know you are also going to have to pay the extra 3% SDLT unless you are not married and you buy in your name only.0
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