The clue ought to be in the name – you’ve either bought a house before or you haven’t, right? If only it were that simple... first time buyer status isn’t as straightforward as it seems and you’re forgiven if – like a lot of first time home buyers – you’re not sure where you stand.
But finding out is really important, especially if you’re looking to take advantage of a first time buyer offer from a lender. Just remember not to automatically assume you do or don’t qualify; some lenders may classify you as a first time buyer even if others don’t. So be sure to double check.
Here are some simple pointers to determine who is typically considered to be a first time buyer:
The material contained in this document is for information purposes only and does not constitute advice.
You should obtain relevant legal or other advice if you are unsure about the effect on you of any matter in this document.
We have lots of different mortgage options, from Repayment and Offset, to Fixed, Tracker and Standard Variable Rate. If you’re not sure what any of this means, we can help.
We have a handy calculator to give you a rough idea of what you may be able to borrow – simply add a few details and get an indication in seconds.