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Mortgage preparation questions
superspudking
Posts: 44 Forumite
Hi,
We have recently sold our first property and are currently living with parents so we can beef up our deposit.
Does anyone know how long we can live there before we become classed as first time buys?
And would being classified as a first time buyer matter? E.g, would we receive worse rates?
Also
My wife's work is offering a staff share savings scheme. We would like to save about £100 pm for 3 or 5 years. Would this affect the amount we could borrow? Or could we pass this off as savings?
Thanks in advance for any advice
We have recently sold our first property and are currently living with parents so we can beef up our deposit.
Does anyone know how long we can live there before we become classed as first time buys?
And would being classified as a first time buyer matter? E.g, would we receive worse rates?
Also
My wife's work is offering a staff share savings scheme. We would like to save about £100 pm for 3 or 5 years. Would this affect the amount we could borrow? Or could we pass this off as savings?
Thanks in advance for any advice
0
Comments
-
Why would you be "passing it off" as savings ? It IS savings.
You'll have to ask whoever is lending you money at the time, what their definition of a FTB is.0 -
I thought it was 3 years standard..?[STRIKE]1/12/16 - £152,599.00 [/STRIKE]
[STRIKE]11/11/17 - £145,990.00 [/STRIKE] <> Overpaid £3916.
11/11/18 - £142,074.00
Barclays Car (5.99%)£0/£8,832.370
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