Changing the name on the deeds of a house to get a morgage

[lmcgrath]

I will start form the start.

6 years ago my mother passed away, she left the house to my brother and myself. In the will there was a clause that the house could neither be sold or re-mortgaged for 5 years, we were both old enough to mind our selfs but young enough to be foolish in our decisions.

Any way the time has come for things to be sorted I moved out 3 years ago and my brother stayed in the house, he wants to buy me out, but he is finding it hard to get a mortgage, even though he owns half of the house. the broker has said that he would qualify for the government choice mortgage as he is a first time buyer, and would have a good chance of getting it, but as the both our names are on the deeds of the house he will not be classed as a first time buyer as he owns a home, the broker has said the chances of him getting a re-mortgage are slim.

My questions are,
Can we transfer the house into my name so i would be the sole owner?
Would he be then eligible for the Government Choice Mortgage?
How long would it take to change the names on the deeds?

Can any body out there help me?

Thanks

 

[NorfBank]

I think your broker is misinformed.
As far as I know an inheritance is not regarded as a purchase so your brother is still a first time buyer under the home choice loan scheme.

www.moneybackmortgages.ie

 

[lmcgrath]

Thanks
I will look more in to this.
Would you suggest i look for another broker,
I have been told he is good at what he does

 

[PaddyBloggit]

I think your broker is misinformed.

That should answer your question about whether or not you should look for another broker!

 

[plant43]

The broker is completely wrong

[broken link removed]

Can I avail of first time buyer relief if I have previously inherited a house?

Yes. An inheritance is not regarded as a previous purchase and the first time buyer relief can be claimed provided all other conditions of the relief are satisfied.