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Building House - First Time Buyers Query

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  • 15-03-2010 4:29am
    #1
    soloeffort79
    Registered Users Posts: 46 ✭


    5 Years ago i bought a house with my sister as we could not afford to get the house on our own. So we are both named on the mortgage and on the deeds of the house. We both had to use our first time buyers grant, even tough we only had one house.
    Since then i have got married and my father has given me a site so i plan to build a house on this. My wife has never used her first time buyers grant...My question is will we have to pay stamp duty on our new house even tough i used my FTB with my sister and my wife has never owned a house. The house will be in both our names..


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    #2
    Victor
    Registered Users Posts: 78,355 ✭✭✭✭Victor


    There is no more first time buyers grant. If you are building, you don't pay stamp duty - you pay VAT on the construction cost.

    If you do buy, AFAIK as you have used up your first time buyer's opportunity, so has your wife (unless ye divorce, in which case there are options).

    I have to ask why you are planning on building a house when the country is flooded with them (although many in the wrong place). :)

    You may have difficulty getting a mortgage for the new house, depending on how much is owed on the old house.


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