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First time buyer as a EU citizen
Karrie23
Posts: 2 Newbie
Hi all!
I've studied and worked in the UK on and off over the past 8 years. After my undergrad (4 years) I was forced to return to my country of origin (in EU) as my parent had declared bankruptcy on their business and couldn't pay for the mortgage of the flat any more, therefore I had to return at 23 and get a job to start paying my mother's mortgage. Which was too high of a sum with the graduate job I got, then my mother had an idea to sell the property to me as I am much younger and can reduce the monthly payment amount, which I did, unwillingly but still did it. I currently work in London and at 27 years old looking to get into saving for buying a home for (this time for myself) in 3 years or so. To my dismay, I might not be classified as a first-time buyer as I've briefly had a mortgage overseas (from which I didn't gain anything). Can anybody advise me if there's any point for me to save into a LISA for a deposit over the next 3 years?
Thanks,
Karrie
I've studied and worked in the UK on and off over the past 8 years. After my undergrad (4 years) I was forced to return to my country of origin (in EU) as my parent had declared bankruptcy on their business and couldn't pay for the mortgage of the flat any more, therefore I had to return at 23 and get a job to start paying my mother's mortgage. Which was too high of a sum with the graduate job I got, then my mother had an idea to sell the property to me as I am much younger and can reduce the monthly payment amount, which I did, unwillingly but still did it. I currently work in London and at 27 years old looking to get into saving for buying a home for (this time for myself) in 3 years or so. To my dismay, I might not be classified as a first-time buyer as I've briefly had a mortgage overseas (from which I didn't gain anything). Can anybody advise me if there's any point for me to save into a LISA for a deposit over the next 3 years?
Thanks,
Karrie
0
Comments
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If you have previously owned a property anywhere in the world then you wouldn't be classed as a first time buyer under the LISA withdrawal declaration.0
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How are your parents' finances now? It seems like it is time to return the favour.
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Still the same I'm afraid. Had to leave so I wouldn't be dragged under as well
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