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Mortgages for 'NOT a first time buyer?'

10 replies

Foxedme · 31/07/2017 12:11

DH and I both had houses when we were single. He sold his to move in with me years ago. We lived in mine and then rented a house when we had kids as my little but lovely house had dropped in price. Eventually a few years later we sold our house but made a very small amount on it and used the money to pay off debts.

We still rent a large house which is frustrating and dead money. Unfortunately we aren't in a position to save a deposit and are still paying off some debt.

We'd love to buy our own house again, we might be able to get a small deposit from a family member but are there any mortgages for people in our position...? All I seem to come across is great deals for first time buyers! Is there anything else?

OP posts:
lucietta · 31/07/2017 12:12

Interesting.

I bought a property with inheritance outright and sold my property with a mortgage so if I want a mortgage in the future it's the same

EyeHalveASpellingChequer · 31/07/2017 12:13

What % deposit can you afford?

lucietta · 31/07/2017 12:13

Interesting.

I bought a property with inheritance outright and sold my property with a mortgage so if I want a mortgage in the future it's the same

scaredofthecity · 31/07/2017 12:13

I think you still come under the ftb bracket as neither of you own a property or have a mortgage atm.

lucietta · 31/07/2017 12:13

Sorry!

Foxedme · 31/07/2017 12:19

Scared - if that's the case then I'm a very happy bunny. I will see what I can find out!

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Foxedme · 31/07/2017 12:21

Eye - honestly not sure yet...

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SerfTerf · 31/07/2017 12:21

Yes for most purposes you're a FTB again.

ScarlettInSpace · 31/07/2017 12:22

We were advised by an independent financial advisor that because we gave both had mortgages in the past we would not be considered ftb but that didn't stop him getting us a good deal on a 95% mortgage.

I'd honestly suggest finding a good IFA and letting them find you the right deal.

Foxedme · 31/07/2017 12:25

Guys, this has given me so much hope. Thank you! xx

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