Who qualifies as a first-time buyer?
If occurrences have happened and you’re unsure whether you qualify as a first-time buyer, we’ve outlined what you need to know to help.
You are a first time buyer if…
- You have never owned a freehold or leasehold interest in a dwelling before
- You are purchasing, for the first time, your main or only residence
You are not a first time buyer if…
- You have been left a share of or an entire residence in a will
- You own a static caravan
- You own a residential property elsewhere in the world
- You are buying a home with someone who has owned a property before (please note, this is only the case if the home is going to be in both names)
- You have already participated with a housing association in a shared ownership scheme
- You are planning to buy your first home as a buy-to-let property, even if it is your first property
Information sourced from Homeward Legal.
Buying your first house and not sure where to start on the process? Click here for a super simple guide. Or here, for everything you need to know when diving into the world of home-buying.