h2g2 The Hitchhiker's Guide to the Galaxy: Earth Edition

Anyone know what the actual definition of a first time buyer is?

The reason I askis that I sold my house last year and am now in rented but looking at putting an offer on a house. To all intents and purposes I am in the same position as a first time buyer - but I have owned a house before although not right now.

And if that does disqualify me from an ftb mortgage, if I took one out would it be invalidated if they then found out I had owned a house before?

Not that I intend being dishonest but I'd like to know regardless!

Off the top of my head, without any real evidence i would think that a first time buyer would be anyone who isn't in a 'chain' of buying and selling. I wouldn't think previous non-current mortgages would have any relevence unless the home had been repossessed... But i could be wrong.

Again, not an expert (despite currently having two mortgages...), but to the best of my knowledge, first time buyer simply means "hasn't got a mortgage", rather than "has never had...".

Best option - ask an actual mortgage adviser at your bank.

SoRB

My thought would be slightly different - ask all the mortgage advisers in half a dozen banks... Then go back to your bank and tell them what the best offer you've had was...

Cheers peeps. I do intend to ask (you don;t get if you don't) but thought I'd check the combined wisdom of h2g2 first!

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Wow.

Unsubtle AND incompetent. How did you dredge up this question from nearly FOUR YEARS ago? And what made you think anyone would be interested in your tawdry promo?

Parasite.

aw, missed that!

ah, I see. Someone trying to tout there business I take it. Not, perhaps, the best business model!

Have you built my granny annex, yet?

>Unsubtle AND incompetent.<

Must have been an estate agent, ticks all the right boxes

heh, no granny annex yet lil, although I have had the roof lagged and re-tiled so it isn't as freezing up there as it used to be...

BTW, as I recall, I didn't end up with a ftb mortgage. But then as I got mine with a mutual building society of which I was already a member I got a preferential rate anyway which even now is significantly better than anything currently on the market. So it kinda worked out alright in the end.

Blimey. 2007. 3 and half years (didn;t move in till april/may). Guess I'd better get round to finishing off the front room then...

I'll finish decorating my bedroom one day...only been here four and a half years, still not papered the 'feature' wall. It still looks like a feature, though, it being pink plaster and the rest of it yellow.