Are we FTBs?

Drakon

Registered User
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I bought a house in 2005 as an FTB.
I got married two years ago and we're thinking of buying a house together. My wife has never bought a house. If we purchase a house together, do we qualify as FTBs?
 
Short answer: no.

See the following for the long answer: [broken link removed]
 
There is an alternative.

Because (for no good reason other than that is the 'way' they do it) @anb1170 is referring to a purchase whereby you buy as joint owners either as 'joint tenants' or 'tenants-in-common'.

What you do is your wife buys the property in her name solely. You will be on mortgage jointly so don't worry.

Then she will be a first time buyer for tax purposes - and indeed this scheme has the endorsement of Michael Noonan as he floated it on Pat Kenny some time ago.

There is your solution.

The question needs to be asked - why do Revenue do things like this?

[Here is another: You can get relief also for borrowings to repair your principal private residence where it is a rented premises. Do they tell you? Nah.]
 
I don't think any banks allow married people to buy PPRs other than in joint names.

I'm fairly sure there are no Revenue benefits to being a First Time Buyer any more so don't think it's going to make any difference to you. You may find banks targeting some of their products at FTBs, and they may consider you as one.
 
I'm fairly sure there are no Revenue benefits to being a First Time Buyer any more so don't think it's going to make any difference to you.

Yeah, I'm just after sussing that out now from their website. The stamp duty situation has vastly improved I see.
 
Only for those who go with BoI, if you're referring to their recent offer to pay stamp duty for FTBS.
 
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