can you be a First time buyer if you have ever owned a property? ever??

I've owned properties in the past and thinking of buying another in my sole name.

Ive been looking on mortgage sites and the options are 1st time buyer/ moving home/ remortgaging.

My parents were classed as first time buyers last year but then they hadn't had a mortgage for about 10 years. Is there a time limit? Has it changed now?

This is not about stamp duty (as it was mentioned on another thread) as the property concerned is less than 150k and in a qualifying area for stamp duty exempt.

Thanks
:rotfl:

Replies

  • opinions4uopinions4u
    19.4K Posts
    ✭✭✭✭✭
    There is no set rule.

    For me it's simple. If you have owned a house before, you're not a first time buyer.

    Some lenders will allow applicants to take a first time buyer deal if they are not selling a property. This is a matter for each individual lender, and not something that has a clear law or regulation covering it.

    In most cases, first time buyer mortgage deals are no better than other options.
  • Thanks for the reply.

    When using online calculators Ive been putting in moving home (even though I wouldn't be - not straight away anyway)
    :rotfl:
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