Status if I move back home

Jemima2511

Hi all, sorry for what’s probably a daft question! 

I’m coming to the end of my fixed term on my mortgage, and looking at selling and moving elsewhere. I have some horrible neighbours - dog fouling in the green, throwing rubbish and bread in the communal courtyard and attracting vermin, etc. The factor won’t do anything despite numerous complaints, and I’d like to move before anything happens which brings down the value of the house.

I’ve been looking at other places, but I’m wondering what status I would have if I chose to buy after moving back in with parents to break the chain? Looking at mortgage options seems to discuss FTBs, home movers and moving lender, and I don’t think I would fit any of those categories?

MWT

You will not be a FTB as far as stamp duty is concerned.

Some lenders do consider someone who has not had a mortgage for a certain period of time to be a FTB again, but in general there isn't much to be gained there, and if you plan to buy again quickly you wouldn't qualify anyway.

You are just a home mover in essence, with a little break between homes.

K_S

@jemima2511 As MWT said, just consider yourself a home mover. The course of action you've described will have no adverse impact on your mortgage chances.

Jemima2511

Thanks both. I would be hoping to buy again before the end of the year, so it’s useful to know - cheers!