Posted on 4 April 2010 by Mike Wilson
As someone who sold a house 4 years ago but never bought another since (I have rented since then) , would I qualify as a first time buyer:
Mike before speaking to an independent mortgage adviser about your situation.
Latest Stamp Duty Changes: This only applies if you have never owned a house or flat in the UK or anywhere else in the world.
Applying for a mortgage: There are very few First Time Buyer only products on the market now and these tend to be aimed at borrowers who have never owned a property. The majority of Lenders have made all their purchase products available to both Home Movers and First time Buyers and this means that unless you have a specific need, such as a very high Loan to Value, there is a greater choice of mortgages available.
Depending on your own circumstances, you may qualify for one of the Governments FTB Homebuy initiatives. For these you must not be named on a mortgage or currently own a property. There are other qualifying criteria and I recommend that you look at the Home and Community pages on the Government's own website.
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