Mortgage to renting?

[didelydoo]

I'm thinking of selling my flat and moving to renting in a different area, where you get more for your money (don't want to be tied to the new area for too long though). I was wondering if this is likely to penalise me in the future when I look to get a mortgage again- will I be classed as a first time buyer again or something else?

Any help appreciated

[scotal]

It depends, is the quick answer.
Some lenders will treat you as a first time buyer if you've not had a mortgage in the last 12 months, others will just treat you as someone who used to have a mortgage but currently doesn't.

Depending on how high your LTV is it shouldn't hold you back that much if & when you decide to buy a new place.
If you are "losing" the track record of having a mortgage and its monthly payments, you will want to make sure that the lenders can find you in the future, so get yourself on the electoral role at the new place, along with your bank details.