First Time home Buyer Loan Qualifications

Recent stamp duty changes: Only if you have never own a home in the UK or anywhere else in the worid. Apply for a mortgage: Very few first-time buyers still have anything left on the open markets and these are usually targeted at those who have never own a real estate before.

All of the creditors have made all their purchased goods available to both do-it-yourselfers and first-time buyers, which means that there is a wider range of mortgage choices unless you have a particular need, such as a very high loan at value. Subject to your own circumstance, you may be eligible for one of the government's FTB Homebuyitiatives.

You may not be mentioned on a hypothecary for these or currently own a real estate.

Who' s entitled to help buy?

Eqity credits are available to first-time purchasers and home owners who want to move. It is not allowed to make a down payment of less than 5% of the full amount of the sale. It is not possible to trade your present house for the purpose of buying a new house under Help to Buy. At the time of purchasing your new home with a Help to Buy Equities loan, you may not own any other real estate.

It is not possible to sub-let a house acquired with the help of a buyer. Your house to buy must be a new construction promoted as Help to Buy by a Help to Buy registrated development company with a max value of £600,000. Note this for all future Help to Buy purchases.

Subleasing of the house is permitted by a servant member of the armed forces whose official duties require him to be outside the area in which he lives for a specified time. Requests for sublease must be addressed to the Post Sales Agent and if he fulfils the above mentioned requirements, the sublease will be authorised.