I would suggest that you buy the house in your sole name......
Can you expand on what this means?We will stay there at times and "officially" it will remain her primary residence.
The purpose of AH is to assist people to buy a house while on a low income, then if the purchaser does well in work in the following years and wants to buy a second property why not sell the AH and take what profit you are due and pay Fingal what they are due. I don't think the AH was ever designed to help people buy an investment property. Maybe Im daft but surely the OPs girlfriend could accept and be glad for the help she got when it was needed and be happy that she is now able to purchase under her own steam.
Why bother holding on to the affordable home?
The interest on the mortgage is probably a lot more than you'd get for renting one room.
From a moral, legal and financial point of view you should sell it if you're not going to live there
I disagree. Legally she is doing something wrong. She cant opt to have two principal private residences.
You might also confirm what you meant in your first post as "officially" her main residence.
If she purchases her new house with you as an owner occupier, how can she be an owner occupier of the affordable property as well.
Can understand her reluctance to sell her own home if she is not sure about how things will work out. If she is unsure of that, perhaps she should not buy another home in the meantime either.
Also, if she has done well in her job, she will hopefully not need the assistance of the AH scheme the second time around.
ok - so how can she avail of stamp duty relief on the second property, if she is already an owner occupier somewhere else or do you not have to be an owner occupier to avail of it?
You still havent clarified by what you meant by "official" ppr? What does this term mean, and why the inverted commas in the first post.
As already stated... My gf is reluctant to sell in case things do not work out between us, and as she is not allowed to apply for the AHS a second time she has decided to hold onto the property for a while.
She may stay in the new apartment with me a lot of the time but he AH will remain her official PPR.
So why not move into the AH with her until you are both ready to take the next step?
If she's not going to be living there (which we all know is the real intention here), then it's not her PPR.
So pretty quickly this thread has turned into a debate on the morals of AH rather than the queries I specifically wanted to know about. Conclusions have been jumped to..
Myself and my partner are hoping to buy our first home together.
However, currently she owns an affordable home with Fingal. The plan is to hold onto this home whilst renting out a room in it. We will stay there at times and "officially" it will remain her primary residence.
The new property will officially be my primary residence, although in both our names I will be the only one paying the mortgage.
Does anyone know what the implications will be when it comes to us applying for a mortgage?
What are the Stamp Duty implications?
Does the bank automatically share our information with Revenue?
If there is Stamp Duty implications, how are we made aware of it and at what stage?
We have already started applying for a mortgage and one of the banks have been asking questions about the affordable housing side of things and I was just trying to wonder why?
Many thanks.
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