First time buyer eligibility

Adi2scoops

Hi all,

Just a quick query, I am married and we are looking to move home soon as we are outgrowing our current house.

I bought the house in my own name before I got with my partner... my query is that seen as my wife has never owned a house, but I have, would we be eligible for first time buyer rates or do both parties need to be first time buyers?

da_rule

Just has a quick look on Lloyds Bank website and they say that as long as one of the applicants has never owned a property before you will be eligible (https://www.lloydsbank.com/mortgages/help-and-guidance/first-time-buyers-faqs.asp - question 2). Unfortunately it'll probably just be a case of checking with your preferred lender.

Also, your wife could open a Help to Buy ISA.

ACG

I do not think there is a massive difference between first time buyer rates and home mover rates. But with most lenders you would both need to be first time buyers.

Xyzzy

with Halifax we always offer which ever rates are best if the applicants aren't both FTBs- the first time buyer rates are pretty much always better,if theres any difference at all