First time buyer status

J

Jonc

Guest
I am in the process of relocating from the UK to Ireland. I am selling my house in the Uk and looking to purchase in Ireland, will I be classed as a first time buyer?
 
Unfortunately not, you'll be treated in the same way as an Irish person who already has a property abroad. In other words, once you've bought anywhere you're a second time buyer. Good luck with the move!
 
I thought that non FTB's could receive FTB rates of owner occupier mortgage interest relief for the balance of the 7 years that remains from when they first became property owners? This was something that came as a surprise to me in a recent thread but seems to be legitimate. Check this out of you do buy here.
 
ClubMan said:
I thought that non FTB's could receive FTB rates of owner occupier mortgage interest relief for the balance of the 7 years that remains from when they first became property owners? This was something that came as a surprise to me in a recent thread but seems to be legitimate. Check this out of you do buy here.
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Yes. I thought the OP was talking about stamp duty exemption. Not sure if the interest relief holds true for someone who didn't originally buy in Ireland though.
 
liteweight said:
Unfortunately not, you'll be treated in the same way as an Irish person who already has a property abroad. In other words, once you've bought anywhere you're a second time buyer. Good luck with the move!
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apart from self declaration how would the government/inland revenue know that you bought the first property abroad?
 
One might well get away with lying to Revenue. Or not. I don't share the optimism of anyone who thinks it's worth taking the chance. Revenue may find out all kinds of things from many different sources. Much of it is happenchance.

mf
 
mf1 said:
One might well get away with lying to Revenue. Or not. I don't share the optimism of anyone who thinks it's worth taking the chance. Revenue may find out all kinds of things from many different sources. Much of it is happenchance.

mf
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I was not suggesting that lying to the IR. I was merely enquiring as to how the IR would know about a foriegn property purchase.
Sorry if you misunderstood.
 
IR = Inland Revenue = UK tax authorities. Are you sure that's what you mean?

As for how the Irish Revenue Commissioners would know about previous home ownership they ask this explicitly on the owner occupier mortgage interest tax relief application form. Filing a false declaration to Revenue is a very bad idea.
 
ClubMan said:
IR = Inland Revenue = UK tax authorities. Are you sure that's what you mean?

As for how the Irish Revenue Commissioners would know about previous home ownership they ask this explicitly on the owner occupier mortgage interest tax relief application form. Filing a false declaration to Revenue is a very bad idea.
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Sorry I am now UK based so keep refering to IR instead of RC.
 
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