Getting around stamp duty or getting a 100% mortgage

[Matt2003]

Hey Guys,

I’m pretty sure I am not the first and wont be the last to post an entry like this.

Let me tell you firstly about my situation. I purchased a house with my partner at that time roughly about two years ago. After a couple of months that relationship went wayward and I handed the house to my partner. I am now in a predicament where I obviously want to buy a house but due to the fact I am not a first time buyer I can only get a 92% per cent mortgage and will have to pay stamp duty on top of that. So over all I will need at minimum €30k.

I am now renting a property and am finding saving money quiet hard. I have estimated I should have that €30k in 9 years time at best.

Dose anyone know if there is like a panel that you can plea your case to in order to re-establish yourself as a first time buyer. Or dose anyone know any possible way around stamp duty or anyone that will give me a 100 per cent mortgage.

Any advice would be appreciated.....

 

[Vanilla]

You may be exempt from stamp duty on new builds.

 

[ClubMan]

Dose anyone know if there is like a panel that you can plea your case to in order to re-establish yourself as a first time buyer.

No way around the SD issue if you previously bought a property other than buying a new build. The only exception is married couples who separate/divorce where one keeps the family home and the other can be considered a first time buyer again.

 

[Sarah W]

Bank of Scotland lend up to 95% for non FTB, subject to lending criteria so if you buy a new property you may need only 5% plus costs.

HTH.

Sarah

www.rea.ie