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FTB question


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Hi, first post here and wanted to ask how strict the first time buyer rules are. I owned a small property while studying in my home country about 20 years ago, which I was forced to sell (at a small loss, so most of the equity gone) when my job back then brought me to the UK. Been stuck renting here ever since. Am now in good job, good salary so that is not the limiting factor but I don’t have enough for a 10% or 15% deposit in London. Hence am looking at the London HTB or the expected new FTB guarantees as these could be life changing.

Does anyone know if there is any flexibility in these schemes given circumstances, or am I forever ruled out from accessing either of them? And any advice how to approach it?

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The new "Mortgage Guarantee Scheme", is available to non-first time buyers. So if this is introduced, you may be eligible.

Sit tight and keep saving, hopefully there will be an option available this year for you.

 

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