1st or 2nd time buyer?

Moneygrabber89

Hi,

I require some advice.

I recently sold our first home as me and now ex-girlfriend broke up. The mortgage we had in our property was in both our names.

The question I have is I am now looking to get back on the property ladder by myself. Would I be classed as first time buyer or not as this would be the first mortgage on my own?

Jox

Not a 1st time buyer as you've already had a mortgage.

Moneygrabber89

So am I right in thinking I wouldn’t be eligible for any new buyer incentives such as help to buy etc. or where council own 30% of home.

Pixie5740

Moneygrabber89 wrote: »

So am I right in thinking I wouldn’t be eligible for any new buyer incentives such as help to buy etc. or where council own 30% of home.

You won't be eligible for the FTB SDLT relief because you have previously owned a property.

HTB schemes (excluding HTB ISA and LISA) are not exclusively for first time buyers.

https://www.helptobuy.gov.uk/

Moneygrabber89

Thanks guys.

One more question....

If i only own 30% of property i.e. shared and i own 70% am i still eligible to rent a room in the house?

AnotherJoe

Moneygrabber89 wrote: »

Thanks guys.

One more question....

If i only own 30% of property i.e. shared and i own 70% am i still eligible to rent a room in the house?

It's probably possible by rearranging the words in your last sentence that they would make sense but they certainly don't in the order you've put them.

Moneygrabber89

I meant if I own 70% and the council own 30% would I still be able to rent a room

kingstreet

Presumably, you are involved in Shared Ownership and you will find such rules in your lease paperwork.

Rjs1882

A lot of shared ownership schemes that I have looked into state that you cannot rent any rooms out but that could differ from Housing associations