To see less ads Register or Login ----- Daily Fantasy Sports games 18+

First time buyer

A forum for matters involving finance (incl. business and money issues) and shopping (incl. consumer rights).
Post Reply
User avatar
Finsimbo
Grumpy Old Man
Posts: 2456
Joined: 13 Oct 2005, 18:27
Location: You tell me
FS Record: If only there was a record

First time buyer

Post by Finsimbo »

I have a mortgage in Finland but now I am back in the UK I am looking to buy a place.

I have never had a mortgage in the UK, so would I be classes as a first time buyer?

User avatar
Vid
Head Moderator
Posts: 21729
Joined: 13 Oct 2005, 18:33
FS Record: winning is a distant memory

Re: First time buyer

Post by Vid »

Waiting for an answer from a mortgage advisor on FB, colleague of MrsVid (missus thinks yes if you've never owned a home in the UK)

User avatar
Ashers
FISO Knight
Posts: 19810
Joined: 21 Jul 2008, 17:31
Location: Stroud
FS Record: OFL Fantasy Fives Winner 2011/2012, SDT wins WDT, weekly, monthly and seasonal prizes. Fantasy Darts daily winner, TFFO mini league winner & FISO U21 Threes Champs 13.
Contact:

Re: First time buyer

Post by Ashers »

Finsimbo wrote:I have a mortgage in Finland but now I am back in the UK I am looking to buy a place.

I have never had a mortgage in the UK, so would I be classes as a first time buyer?
Depends if it shows on your credit file.

User avatar
Backlash
Dumbledore
Posts: 9818
Joined: 04 Nov 2012, 10:05

Re: First time buyer

Post by Backlash »

Why do you want to be classed as a 1st time buyer?

User avatar
Finsimbo
Grumpy Old Man
Posts: 2456
Joined: 13 Oct 2005, 18:27
Location: You tell me
FS Record: If only there was a record

Re: First time buyer

Post by Finsimbo »

Backlash wrote:Why do you want to be classed as a 1st time buyer?
I thought they get better deals?

my credit is fine in the UK ok a bit ropey in Finland. Would they check my credit in Finland?

User avatar
Ashers
FISO Knight
Posts: 19810
Joined: 21 Jul 2008, 17:31
Location: Stroud
FS Record: OFL Fantasy Fives Winner 2011/2012, SDT wins WDT, weekly, monthly and seasonal prizes. Fantasy Darts daily winner, TFFO mini league winner & FISO U21 Threes Champs 13.
Contact:

Re: First time buyer

Post by Ashers »

Finsimbo wrote:
Backlash wrote:Why do you want to be classed as a 1st time buyer?
I thought they get better deals?

my credit is fine in the UK ok a bit ropey in Finland. Would they check my credit in Finland?
It depends on the company and what comes up when they credit search you.

Have you checked Equifax to see what comes up?

User avatar
Finsimbo
Grumpy Old Man
Posts: 2456
Joined: 13 Oct 2005, 18:27
Location: You tell me
FS Record: If only there was a record

Re: First time buyer

Post by Finsimbo »

Ashers wrote:
Finsimbo wrote:
Backlash wrote:Why do you want to be classed as a 1st time buyer?
I thought they get better deals?

my credit is fine in the UK ok a bit ropey in Finland. Would they check my credit in Finland?
It depends on the company and what comes up when they credit search you.

Have you checked Equifax to see what comes up?
When you say company do you mean bank

User avatar
Ashers
FISO Knight
Posts: 19810
Joined: 21 Jul 2008, 17:31
Location: Stroud
FS Record: OFL Fantasy Fives Winner 2011/2012, SDT wins WDT, weekly, monthly and seasonal prizes. Fantasy Darts daily winner, TFFO mini league winner & FISO U21 Threes Champs 13.
Contact:

Re: First time buyer

Post by Ashers »

Finsimbo wrote:
When you say company do you mean bank
Bank or Building Society.

User avatar
Vid
Head Moderator
Posts: 21729
Joined: 13 Oct 2005, 18:33
FS Record: winning is a distant memory

Re: First time buyer

Post by Vid »

UK bank unlikely to ask or check on foreign lending, it might come up in solicitor searches, whether that'll have any bearing or not remains to be seen.

User avatar
unc.si.
FISO Knight
Posts: 11778
Joined: 11 Oct 2010, 14:08
Location: Off to buy Loctite
FS Record: 'Loser' by Beck

Re: First time buyer

Post by unc.si. »

Overseas credit history unlikely to show up, which will in itself cause some issues as you won't have a proper credit history, although maybe less issues than if it shows up and its crap...

If you've been back a while (say 6 months) and have had a credit card (without missing payments), a UK bank account and are on the electoral roll you should be fine if the system is the same as when a relative of mine was in the same boat a couple of years back.

View Latest: 1 Day View Your posts
Post Reply

Return to “Financial & Shopping”