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Not a first time buyer, but am I eligible for a first time buyer...?

OK I Know it sounds confusing.
I was married and I've been divorced for 9 years now. I've been paying off debts from the previous marriage and of course, I lost the house in the "deal" so I have been renting since then. 
I want to purchase a house in the next 3 years or so, but as I am not a first time buyer, I am told I am not eligible for FTB deals. Getting a mortgage is so difficult now and yes, I need to get a deposit first. 
Has anyone got any advice on this please? I want to get off of the Renter's "hole" I am in and back on to the property ownership ladder and know I am putting money into my own property.

Comments

  • K_S
    K_S Posts: 6,891 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    edited 30 November 2020 at 4:21PM
    @Grimpeeper666 For mortgage purposes, being classified as an FTB or not will not make a material difference. FTBs might be eligible for a some minor incentives (free val, an extra £100 cashback, etc) but largely the products available as a next time buyer are as competitive as those available to an FTB. I hope that makes sense.
    Where your non FTB status might hurt a bit more is in things like not being eligible for a lot of government incentives (H2B from April 2021, discounted stamp duty, whatever new schemes they may come up with to boost home-ownership, etc).

    I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. 

    PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.

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