can i be a first time buyer?

I

ilucey

Guest
my the girlfriend put deposit on an apartment 18 months ago before we were married. the apartment is now going through snag list and will close soon. she will not live it in and will pay stamp duty as an investor

in the mean time we got married and are looking to buy soon. i have never bought any house

we were looking at houses in the 750k+ range. with all this news about first time buyers could i save on paying the stamp duty or am i now deemed to have lost my first buyers status as i married somebody who bought a house.

my questions are:

1. am i first time buyer
2. would i need a morgage on my own to keep that status or could we get a joint mortgage
 
1. am i first time buyer
In this case, No
2. would i need a morgage on my own to keep that status or could we get a joint mortgage
Yes
 
are you sayig if i get a mortgage on my own i can be a first time buyer?
 
i think so yes, as long as you do not use the funds of your partner to buy the house. Effectively you would be buying it on your own, and to be honest you will need a significant amount of cash + annual wages (150k approx min) to qualify for 750K + mortgage on your own...from a tax point of view it is pretty ineffecient to purchase your first home as an investor..by her doing this you will both loose all ftb stamp duty relief + there may be other considerations that someone can detail a bit better.
 
I bought a house before I got married. It has now become an investment property (which I will be paying my stamp duty clawback on once I rent it out) and my husband and I have recently bought a new house together. We went for a joint mortgage with single title in his name and he paid the first time buyers stamp duty rate.

Normally you would need to take legal advice on this as you are paying a mortgage on a house you have no legal ownership of. But this is not necessary in the case of a married couple.
 
stumpy` said:
I bought a house before I got married. It has now become an investment property (which I will be paying my stamp duty clawback on once I rent it out) and my husband and I have recently bought a new house together. We went for a joint mortgage with single title in his name and he paid the first time buyers stamp duty rate.

Normally you would need to take legal advice on this as you are paying a mortgage on a house you have no legal ownership of. But this is not necessary in the case of a married couple.
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Did your solicitor advise you to do this, as I don't think you can qualify as a FTB in this way? The following is taken from the Revenue's website:[broken link removed]

c) Where purchase monies are not provided entirely by the first time buyer but another person, e.g. a parent, is providing part of the purchase monies, then the relief will still apply where that other person is acting as a co-mortgagor or guarantor and the following circumstances apply -

* The transfer of the property is taken in the name of the first time buyer
* It is the intention of both the first time buyer and any other person that the other person is not to take a beneficial interest in the property
* The other person has been joined into the mortgage solely at the request of the lending institution for the purpose of providing additional security for the monies being advanced for the purchase
* It is not intended that the other person will be contributing to the repayment of the mortgage in the normal course
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