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Are we first time buyers?
Lauraliz
Posts: 16 Forumite
Hi
We are about to start the house search for our own home, my partner owned a house with his ex wife that was sold year. We were living there up to the sale, long complicated story of tenants moving out when it went on the market and us being told by the ex that they couldn't afford to pay the mortgage and we would have to cover it so we moved in as we were unwilling to pay for an empty house and the one we lived in.
We have since lived with my parents, cosy at best with a 7 year old and dog in tow!
My work is unreliable and seasonal his is solid (civil servant) plus he he earns over double that I do so we have decided to go with just his wage and find a two up/two down that we can call ours.
We are aware of the potential problems of me giving towards the deposit so I have covered a lot of the day to day costs such as the car insurance, tax, petrol the car is in my name to be clear and child induced costs which are never ending!
Anyway no where are there mortgages for people who have owned a home before but have now sold it and live in their in laws loft! I have read that we may be able to get a good deal as are classed as first time buyers, but that doesn't feel quite right?
Does anyone have any experiences or thoughts or words of encouragement that will help us, we do have a mortgage advisor who has been recommended to us but he is on holiday and this question plus others are really weighing on my mind!
Thank you for reading to the end! :rotfl:
Lau
We are about to start the house search for our own home, my partner owned a house with his ex wife that was sold year. We were living there up to the sale, long complicated story of tenants moving out when it went on the market and us being told by the ex that they couldn't afford to pay the mortgage and we would have to cover it so we moved in as we were unwilling to pay for an empty house and the one we lived in.
We have since lived with my parents, cosy at best with a 7 year old and dog in tow!
My work is unreliable and seasonal his is solid (civil servant) plus he he earns over double that I do so we have decided to go with just his wage and find a two up/two down that we can call ours.
We are aware of the potential problems of me giving towards the deposit so I have covered a lot of the day to day costs such as the car insurance, tax, petrol the car is in my name to be clear and child induced costs which are never ending!
Anyway no where are there mortgages for people who have owned a home before but have now sold it and live in their in laws loft! I have read that we may be able to get a good deal as are classed as first time buyers, but that doesn't feel quite right?
Does anyone have any experiences or thoughts or words of encouragement that will help us, we do have a mortgage advisor who has been recommended to us but he is on holiday and this question plus others are really weighing on my mind!
Thank you for reading to the end! :rotfl:
Lau
0
Comments
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Don't worry about the first time buyer thing. It's a marketing term. Some lenders have extra features for 'first time buyers products', some don't.
There is lending available for people who have sold up and now living with parents, or in rentals, wherever.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0 -
Thank you for your reply, I am finding it all a little confusing!
I have never owned a home before and my partner bought his over 15 years ago now and cannot remember much about it!
The forum has been a great source of information, I have been lurking for a while trying to understand as much as possible!0 -
It was all very different 15 years ago.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0
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