Am I a first time buyer?

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:

• you’ve never owned a home previously, either in the UK or abroad
• you only own, or have owned, a commercial property – such as a shop, restaurant, or salon that has no living space attached to it (such as a pub with upstairs accommodation)
• you’ve never owned a home previously, anywhere in the world, and are looking to purchase a buy-to-let home.

• you’re looking to buy a property with someone who owns, or has previously owned, a home
• you’re having the property bought for you by someone else who already owns their own home, such as a parent or guardian – and it’s going to be bought in their name
• you’ve previously inherited a property, even if you never lived there and have sold the home.

To get a better understanding of how to pay for your first property purchase, and learn about the available help for first time buyers, check out our handy guide.

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.

Think carefully before securing other debts against your home. Your home may be repossessed if you don't keep up repayments on your mortgage.