Who do lenders regard as a first time buyer?
This varies from lender to lender. For many, a first time buyer is anyone who has never been the owner of a property. For others, a first time buyer is someone who has previously owned a home but has been off the property ladder for three years or more. What matters most is the level of security a buyer can offer against a loan. Obviously, lenders like to feel safe in the knowledge that they will be repaid, and the more you can do to prove this ability, the higher the loan you are likely to be offered.
