Splitting up but never married

M

Maxey2006

Guest
Hi Everyone. I have a question which would be a great help if anyone has any ideas

I bought a house 3 years ago with my ex but we are now splitting up...she is keeping the house and giving me 20,000 in cash..

I now need to but a house but I am now not classed as a ftb and so cannot get a 100% mortgage and it seems i will have to pay stamp duty..

I live in Dundalk and even a 2 bed house is about 240,000 so i need to avoid paying what i can ....Has anyone been through this and is there anyway I can be a ftb again

Thanks
 
No. There is provision for married couples who split in that the person buying another house having been bought out of the former family home can be classified as a FTB for stamp duty purposes (don't know if this also extends to tax relief) but there is no such provision for co-habitating couples. Unless you buy a new property you will have to pay stamp duty and your maximum mortgage is 95% rather than 100%.

Sarah

www.rea.ie
 
Thxs Sarah....Thats what i thought..but I thought I would check...
 
I bought a house 3 years ago with my ex but we are now splitting up...she is keeping the house and giving me 20,000 in cash..
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How was this 20K calculated?
Did you go into buying the property 50/50.
Was an agreement signed? What does it say in the event of a split?
How much did the propertry cost?
Did you contribute / pay half the mortgage?

Property prices have increased by approx 30% to 40 % in the last 3 years

You need to get the property valued and split in proportion to the original investment if not 50/50.

is there anyway I can be a ftb again
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Not that I'm aware of
 
If you buy a new property with a floor area of under 125 sq. metres (as an owner occupier), you will be exempt from stamp duty, first time buyer or not.
 
Maxey2006 said:
Hi Everyone. I have a question which would be a great help if anyone has any ideas

I bought a house 3 years ago with my ex but we are now splitting up...she is keeping the house and giving me 20,000 in cash..

I now need to but a house but I am now not classed as a ftb and so cannot get a 100% mortgage and it seems i will have to pay stamp duty..

I live in Dundalk and even a 2 bed house is about 240,000 so i need to avoid paying what i can ....Has anyone been through this and is there anyway I can be a ftb again

Thanks
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Max 20k is nothing.get it valued and this will give you a better idea.whatever equity is in the house since purchasing,you should at least look for half of that figure.!

can you not buy her out and you keep the house?
 
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