Am I classed as first or second time?

jacqmcle

This is probably a very silly question! Had a house when a student years ago but don't now. Do I apply as a first timer as the calculations for second timers on all the internet sites require you to have a house to sell. Am I lying if I say this?
Thanks

Lemoncurd

I also owned a house a few years ago and was told that some lenders do require that you have never owned a house before for their first time buyer deals. Our broker looked at both first time buyer and home mover deals for us and it didn't seem to make any diffference - the same deals were coming up as the best options on both.
I think if you're interested in a deal which says that it is specifically for a ftb it would be worth checking with the lender and seeing what they say.

herbiesjp

Lenders have different ways to classify FTBs - so it will depend on the lender.

Having said that it will not really make that much difference on the rates you get.

MarkyMarkD

For the calculation engines, it isn't going to matter whether you say you are an FTB or not, in most cases. And not that many lenders give FTBs better rates any more, so it shouldn't really matter at all.

Welsh_John

All lenders have different critera for qualifying FTB's,but usually its a time period of months or years.If you owned a house a few years ago & had "no problems",its not possible for them to check anyway.