FTB: what's my options?

[eoinoc]

Hi All,

Was renting up to now but I am determined to step on to the property ladder now! I am even willing to move back in with folks for a time, to save a few quid!

I can afford 300k on my own, have 14K in the bank, no loans at all.

I 'want' to live near where I work which is in Clontarf..! (you are dreaming, I hear you say!)

Options are: buy a terraced cottage/house in the North Strand area by myself; need a little bit of work but grand really OR buy a slightly larger terraced house with my brother in maybe Fairview or Artane (both FTB's, combined salaries 80K). I would cover the large share, probably 70%.

I have to ask: Is there anyway one of us could retain FTB status while the other did not but still the joint salaries are considered when determining how much can be borrowed??

Kind Regards.

 

[ClubMan]

I have to ask: Is there anyway one of us could retain FTB status while the other did not but still the joint salaries are considered when determining how much can be borrowed??

It may be possible to have one name on the property deeds and both on the mortgage but (a) it's a risk for the person not named on the former and (b) I'm not 100% sure that this is legitimate tax avoidance.