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Previously bankrupt- am I classed as 1st time buyer
Rushton
Posts: 12 Forumite
Hi- this seems like it might be a silly question but can anyone give any advice.
I previously owned a home around 15 years ago. I went bankrupt and the house was repossessed. It doesn’t show anywhere on my credit file which I have now worked up to a good rate.
Could I be classed as a first time buyer for a property? (Please so no sarcastic comments)
How do lenders know if you are a first time buyer?
I previously owned a home around 15 years ago. I went bankrupt and the house was repossessed. It doesn’t show anywhere on my credit file which I have now worked up to a good rate.
Could I be classed as a first time buyer for a property? (Please so no sarcastic comments)
How do lenders know if you are a first time buyer?
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Comments
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A first time buyer is one who has never owned a property before.I am not a cat (But my friend is)0
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Martin has clarified this before.
It's if you've ever owned or part owned a property before, even if inherited and sold, or pre bankruptcy.
So no.0 -
How do you think you could be a first time buyer? Lenders know because you are required to declare it, if you lie and say you haven't owned before that's fraud and when they find out you could be facing prison.0
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If you're finding 'first time buyer' a difficult concept to get your head around, think of it like virginity.0
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Of course you areAn answer isn't spam just because you don't like it......0
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For the mortgage then yes more than likely.
Stamp duty no you won’t be.Those who risk nothing, Do nothing, achieve nothing, become nothingMFW #63 £0/£5000 -
For stamp duty land tax (SDLT) purposes, no.0
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That's very kind, but although I don't remember where, I'm sure the analogy was something I read on the interweb rather than made up.Glad I came back to this thread Dave, you get a "best of internet" badge that I very rarely issue. Last one was to the Altavista search engine.
Altavista.... now there's a name I'd forgotten completely, though I vaguely recall it, maybe around 1999. Was it somerthing the kids used to get around the filters when we installed the first PCs in school, I wonder?0 -
Just a normal search engine, pre-G. Lycos, Dogpile, metcrawler were amongst the others, and you had to use them all to not find what you wanted.0
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