Help for NOT first time buying

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Ldent91
Ldent91 Posts: 4 Newbie
in Mortgages & endowments
Hello,

Is there much help out there for someone who isn't first time buying? I'm divorced and left my ex wife our family home and I'm now starting back at the bottom, I am now looking at getting a mortgage for myself, though all the help I can find is for first time buyers only.

If anyone could point me into some sort of direction that would be very helpful.

Thanks

Comments

  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    You can use help to buy shared equity still.
    You can use shared ownership


    What help are you looking for?
  • Ldent91
    Ldent91 Posts: 4 Newbie
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    Thanks for your reply,

    Nothing specific really but everything I see online is for first time buying, I was initially looking for an ISA but again, everything is for first time buying.
  • Neutrinno
    Neutrinno Posts: 310 Forumite
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    Have you removed yourself off the previous mortgage with your ex-wife?
    I am a Mortgage Broker.

    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.
  • Ldent91
    Ldent91 Posts: 4 Newbie
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    The mortgage is part of the divorce that will be finalised in a few weeks.
  • Neutrinno
    Neutrinno Posts: 310 Forumite
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    Ldent91 wrote: »
    The mortgage is part of the divorce that will be finalised in a few weeks.

    Ok. Once you have been removed, there are schemes for home movers too. As Deleted_User has mentioned already, you could look at new builds with a 20% equity loan from the government. This would require you to put down a minimum of a 5% deposit yourself, with the equity loan meaning in total you would have a 75% deposit.

    Shared ownership will allow you to purchase a percentage of the property and pay rent on the remaining part. This could help you get on the ladder with a smaller deposit on a property that may usually be out of reach due to its value. You only require a mortgage for the share you are purchasing, so the amount of money required for a deposit is a lot lower when compared to the amount that would be required if purchasing outright.
    I am a Mortgage Broker.

    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.
  • sal_III
    sal_III Posts: 1,953 Forumite
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    The majority of the first time buyer advice out there is perfectly applicable for your case. Don't let the the FTB label spook you, these threads are mostly more detailed explanations for newbies, the majority of the information in them is applicable for any purchase. Notable exceptions is the SDLT.

    If you are asking specifically about financial help - You can still use the most popular schemes like shared ownership and Help to Buy Equity loan, but not HTB ISA / LISA account bonus/incentive.
  • Ldent91
    Ldent91 Posts: 4 Newbie
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    Thanks for the replies,

    I'll look into the shared ownership! Thanks for the advice!
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