separation and buying again

Hi,
Not sure if anyone can answer this question. I had a bid in on a house. It was between me and a first time buyer. The seller took legal advice and was advised that the safest option was to choose the first time buyer over me. I do understand that the seller can choose to sell to whomever they choose and I do not have an issue with that. I do have an issue with being considered a greater risk legally. I have a separation agreement all joint property has been disposed of and all succession rights and claims have been signed away. There were no children. I am financing using the money from the disposal of the family home and a mortgage in order to buy again. My mortgage company do not have an issue with my separation. Is there something that I am not aware of?
Thanks in advance.

It may be that the seller misunderstood your position and thought that you were waiting for (e.g.) the actual separation or the sale of the family home. I'm of the opinion that you give as little information to a vendor or estate agent as you can - tell them only that you are in funds and/or loan approved and ready to go at a moments notice.

mf

hi, Thank you for that. What I am trying to get a handle on is are there extra legal steps that I will have to go through that a first time buyer will not have to go through? I understood that once legal separation in place and no kids that my ex and I were two seperate legal entities again. Am I wrong? I directly compete with first time buyers in terms of price and want to know if anything else puts me at an disadvantage.
Thanks in advance.

Hi Emerald. If it's any comfort the reaction of the vendors is an unusual one but in future do not disclose information to the estate agent other than you are not in a chain, you do not have a property to sell and that you are mortgage approved. AFAIK you are effectively the same as a FTB. Good luck with your search!

Sarah

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