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Advice for saving if I've owned a property before
Labinopper
Posts: 23 Forumite
Hey guys, I've been looking around trying to find information on how best to save and such if I don't count as a first time buyer.
I owned a home in 2012 thanks to my partners parents gifting us the deposit money, but due to a relationship breakdown we had to sell and we returned the money. Because of this I believe I'm not entitled to use the Lifetime Isa for a mortgage, and there doesn't seem to be any schemes or anything that can help me get on the ladder.
I just thought I'd reach out incase anyone is aware of anything that I'm not, or who has any advice.
Thanks all!
I owned a home in 2012 thanks to my partners parents gifting us the deposit money, but due to a relationship breakdown we had to sell and we returned the money. Because of this I believe I'm not entitled to use the Lifetime Isa for a mortgage, and there doesn't seem to be any schemes or anything that can help me get on the ladder.
I just thought I'd reach out incase anyone is aware of anything that I'm not, or who has any advice.
Thanks all!
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Comments
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@Labinopper The 95% LTV mortgages coming out in April under the govt mortgage guarantee scheme are not restricted to FTBs or expensive new builds. So you could potentially use that to buy a house with a small deposit. But yes, you'll have to get a small deposit first.
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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Find higher interest rate accounts such as regular savers and keep chasing interest rates, details on the savings board. It's how I did it as a FTB and it's how I'm doing it again now I'm a homeowner and saving again.Mortgage started 2020, aiming to clear 31/12/2029.0
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