We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Am I a first time buyer?
PipS
Posts: 6 Forumite
This may sound like a very silly question but it's a thought that's just occurred to me as I'm pondering a HTB ISA and whether actually I would 'qualify' as a first time buyer?
Several years ago when I moved in with an ex partner, I took over/bought out his friends half of their shared ownership mortgage. So technically I have been on a mortgage. He later bought me out when the relationship broke down. Does this disqualify me from HTB first time buyer or even LISA scheme?
If so, realistically what support options or schemes do I have available to me as I would like to buy one day?
Several years ago when I moved in with an ex partner, I took over/bought out his friends half of their shared ownership mortgage. So technically I have been on a mortgage. He later bought me out when the relationship broke down. Does this disqualify me from HTB first time buyer or even LISA scheme?
If so, realistically what support options or schemes do I have available to me as I would like to buy one day?
0
Comments
-
have you read the HTB criteria?
A mortgage under the Help to Buy: mortgage guarantee scheme: "you must not own any other property anywhere in the world at the time you buy your home supported by the Help to Buy: mortgage guarantee scheme"
Help to buy equity loan: "Equity loans are available to first time buyers as well as homeowners looking to move. The home you want to buy must be newly built with a price tag of up to £600,000."
https://www.helptobuy.gov.uk/
my underlining.....0 -
Different schemes and different organisaions have different definitions.
read the relevant conditions.0 -
You can use HTB Equity Loan (newbuild) and HTB Mortgage Guarantee (be quick you've only got a month!) as these are not restricted to FTBs.
You cannot use the HTB ISA scheme as that is for FTBs only and you are not one.
Some lenders treat you as a FTB if you've not owned a property or been party to a mortgage in the last three years.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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards