Would I be classed as a first time buyer?

Metalface Mark · 25 Jul 2011 at 09:55

Basically, I had a joint mortgage for 17 years, after I split with my wife I gave her the house (and the mortgage), and do not have a mortgage at all now.

If I buy a house on my own, fresh mortgage - would I be classed as a first time buyer (as my previous mortgage was joint).

Morgoth · 25 Jul 2011 at 09:58

My instinct is "Naw".

Metalface Mark · 25 Jul 2011 at 10:04

Morgoth said:
My instinct is "Naw".

Thats probably mine too, but thought someone could clarify.

[FnG]magnolia · 25 Jul 2011 at 10:06

Joint or not, you've bought a house before. You're therefore not a first time buyer.

sHo0sH · 25 Jul 2011 at 10:07

From the Direct gove site...

Who can apply for the HomeBuy schemes?
HomeBuy schemes are only open to households that earn £60,000 a year or less. A household is the number of people who are buying the home. For example, a household might be:
you alone
you and your partner
you and a friend
HomeBuy schemes are open to:
people who rent council or housing association properties (see other schemes for tenants below)
first-time buyers (you are a first-time buyer if you haven’t owned a home before)
You can also get help through the HomeBuy schemes if you used to own a home, but can't afford to buy one now.

OllyM · 25 Jul 2011 at 10:08

Is this for the stamp duty exemption? If so, the answer is no.

Cosimo · 25 Jul 2011 at 10:08

You've done it before so no.

londonbairn · 25 Jul 2011 at 10:14

Only if your name was not on the LR entry for the property, which is unlikely on a joint mortgage.

Marky · 25 Jul 2011 at 10:16

I would go with no.

Metalface Mark · 25 Jul 2011 at 10:20

Sounds like its no then

BennyC · 25 Jul 2011 at 11:15

Most likely not, I'd check over on on MSE forums too.

Abraham · 25 Jul 2011 at 12:18

It does depend on what context it matters for, for estate agents/mortgage providers yes, you are equivalent to a first time buyer. For any government first time buyer only things, probably not.

Metalface Mark · 25 Jul 2011 at 12:25

Mortgage wise, does anyone work in the industry?

Captain Chaos · 25 Jul 2011 at 13:10

I always thought youd be classed as a first time buyer proving you were without a house to sell?

Pudney · 25 Jul 2011 at 13:19

It depends on the organisations definition of "first time buyers". As I discovered last week Nationwide defines it as someone who hasn't had a mortgage in the past 3 years.

Edrof · 25 Jul 2011 at 13:24

colthillary said:
I always thought youd be classed as a first time buyer proving you were without a house to sell?

I assumed that, too.

MeEsH BaKkA · 25 Jul 2011 at 14:23

So, if you own a house with no mortgage, you can still get a mortgage as a first time buyer?

meghatronic · 25 Jul 2011 at 14:31

Nope.

Windle · 25 Jul 2011 at 17:31

Mark if you're buying locally mind and check if the postcode is in a "disadvantaged" area. Raises the stamp duty threshold to £150k. Quite large chunks of Renfrewshire do fall under it.

Metalface Mark · 25 Jul 2011 at 17:44

Windle said:
Mark if you're buying locally mind and check if the postcode is in a "disadvantaged" area. Raises the stamp duty threshold to £150k. Quite large chunks of Renfrewshire do fall under it.

Cheers, im not ready to buy yet (be next year or possibly the year after), I was just getting my ducks in a row in preparation