Sold house due to divorce - now renting - will I be considered a first time buyer?

*Kat*

I've been looking at the mortgage calculators and just wondering what I would be considered as?
I'm probably going to buy in spring / summer of 2021, but just looking at options now. I will likely need an 85-90% LTV mortgage Divorce sucks.

Hasbeen

If you have never owned a house anywhere before, then you are a first time buyer. No name on mortgage deeds etc?
If you have then you are a next time buyer.

yksi

If you were on the deeds, then for the calculators you should be selecting "moving to a new house", not first time buyer. Most of them don't make it very clear in this respect.

K_S

*Kat* said:

I've been looking at the mortgage calculators and just wondering what I would be considered as?
I'm probably going to buy in spring / summer of 2021, but just looking at options now. I will likely need an 85-90% LTV mortgage Divorce sucks.

@*Kat* From the point of view of lenders offering mortgages, not being classed as an FTB is not likely to make any significant difference with to how competitive the rates/products that you may be eligible for are.

From the point of view of govt incentives and schemes (stamp duty, new HTB etc), based on your post you are likely to have lost your FTB status.

*Kat*

Thanks all. When I was looking on the calculators etc it didn't have an option for someone who had previously been on a mortgage and then was now renting. So I guess mover will be my status

kingstreet

There are one or two lenders who will treat as an FTB someone who owns, or has owned a property. For example, Nationwide allows FTB products to those who have had no mortgage in the last three years.