First time buyer query!

[JoandMax]

So in light of the announcement of no stamp duty for FTBs it got me wondering how that's defined......

DH and I owned a house in UK for 7 years which we sold last year. We have lived out of the U.K. for 5 years and plan to do so for at least the next 10/15 years.

If we were to buy another house at some point in the future are we then first time buyers again?! As we'd be paying deposits, getting a mortgage again and not selling anything? Or are we considered previous house owners so would have to pay stamp duty?

It's not something that particularly worries me just pondering......

Sorry!!

"A first time buyer is defined as an individual or individuals who have never owned an interest in a residential property in the United Kingdom or anywhere else in the world and who intends to occupy the property as their main residence."

www.gov.uk/government/publications/stamp-duty-land-tax-relief-for-first-time-buyers/stamp-duty-land-tax-relief-for-first-time-buyers

You're not a first time buyer because you have owned a house before. First time buyers have never owned a house, not owned one but sold it a while ago.

I think the government's definition of a first time buyer is one who has never bought a property before, so sadly I don't think you would qualify.

A FTB is one who hasn't owned a property before, not a buyer who doesn't currently own one.