Am I a first time buyer?

JaceBeleren

I am 34, I previously held a joint mortgage with my ex wife and when that marriage broke down the house was sold and the remaining mortgage paid off. I never actually "owned" the property but did have a mortgage on it. Since then I have been saving money and the time is approaching where I need to apply for a mortgage. The question is am I a first time buyer? I mean by very definition of the words "first" and "time" I am not. I am however approaching the the situation in the same position as a first time buyer would. Can I apply for a first time buyer mortgage?

My current girlfriend may want to come in on this house purchase with me and she has never held a mortgage and doesn't own any property and never has. So if we apply together can we apply as "first timers"? Does she basically forfeit her first time buyer status because of my poor choices in the past? This is all very confusing, I am not sure which bracket I fall into on my own and if we both decide to join forces where we stand as a couple?

Any advice?

Retired_Mortgage_Adviser

If you were on the deeds of the old house, then you have lost your FTB status for the purposes of any government scheme. And if that is the case, if you and our partner buy together, the purchase will not qualify for any FTVb incentives.

A first time buyer is defined as an individual or individuals who have never owned an interest in a residential property in the United Kingdom or anywhere else in the world and who intends to occupy the property as their main residence.

However, to mortgage lenders, depending on how long ago this was, you might still count as a "first time buyer", but that doesn't really amount to much.

JaceBeleren

Thanks for the reply. So if my partner has a help to buy ISA can she take advantage of the government help when she cashes that out?

Retired_Mortgage_Adviser

JaceBeleren said:

Thanks for the reply. So if my partner has a help to buy ISA can she take advantage of the government help when she cashes that out?

Yes, she can for LISAs. I assume it's the same for H2B ISAs.

If you’re buying a home with someone who has owned a property before they don’t count as a first-time buyer. But you can still put your own bonus towards the price of the home you’re buying together.