Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Am I a first time buyer??

Options
  • 25-03-2011 2:58pm
    #1
    tapper
    Users Awaiting Email Confirmation Posts: 34 ✭


    I have decided to apply for a mortgage but Am not sure whether I am considered a first time buyer or not.
    a few years ago, I inherited some money and bought a house outright with a family member. Because I bought the house outright, I have never had a mortgage and therefore am wondering can I still apply for a mortgage on a first time buyers basis? I am unsure if I can apply as a ftb because I have never had a mortgage or can I only apply for it if I have never bought a house before?
    Also, as all buyers now have to pay stamp duty anyway, is there really much of a benefit to being a first time buyer? I know there is tax relief but is this just for first time buyers and as I have never had a mortgage I have never benefitted from this.
    Any advice on this would be great as I'm unsure as to whether I have to let the bank know about my current house or not.
    Also, I do not and have never lived in the house I purchased.
    All helpful advice welcome!!


Comments

  • Options
    #2
    GerardKeating
    Registered Users Posts: 7,564 ✭✭✭GerardKeating


    tapper wrote: »
    I have decided to apply for a mortgage but Am not sure whether I am considered a first time buyer or not.
    a few years ago, I inherited some money and bought a house outright with a family member. Because I bought the house outright, I have never had a mortgage and therefore am wondering can I still apply for a mortgage on a first time buyers basis? I am unsure if I can apply as a ftb because I have never had a mortgage or can I only apply for it if I have never bought a house before?
    Also, as all buyers now have to pay stamp duty anyway, is there really much of a benefit to being a first time buyer? I know there is tax relief but is this just for first time buyers and as I have never had a mortgage I have never benefitted from this.
    Any advice on this would be great as I'm unsure as to whether I have to let the bank know about my current house or not.
    Also, I do not and have never lived in the house I purchased.
    All helpful advice welcome!!

    No, you are not a first time buyer, does not matter how your "first" house was bought, if they ask and you are not "accurate" in your reply, then they might view any application as fraudulent when they discover the truth.


  • Options
    #3
    amdublin
    Moderators, Category Moderators, Arts Moderators, Entertainment Moderators Posts: 20,650 CMod ✭✭✭✭amdublin


    You are not a first time buyer.

    No two ways about it.


  • Options
    #4
    tapper
    Users Awaiting Email Confirmation Posts: 34 ✭tapper


    After receiving your attempt at helpful advice I decided to contact Revenue and a few of the major banks. It would seem I am indeed a First time buyer both for mortgage purposes and for mortgage interest relief purposes. Perhaps next time you should only advise people on your particular area of expertise, if you have one.


  • Options
    #5
    average_runner
    Registered Users Posts: 12,849 ✭✭✭✭average_runner


    In terms of getting mortage you are a first time buyer. As you never claim mortage interest relief etc


  • Options
    #6
    amdublin
    Moderators, Category Moderators, Arts Moderators, Entertainment Moderators Posts: 20,650 CMod ✭✭✭✭amdublin


    tapper wrote: »
    After receiving your attempt at helpful advice I decided to contact Revenue and a few of the major banks. It would seem I am indeed a First time buyer both for mortgage purposes and for mortgage interest relief purposes. Perhaps next time you should only advise people on your particular area of expertise, if you have one.

    Who ever said we were experts on anything :confused:

    You spoke to Revenue. Great. Probably should have done this straightaway rather than relying on strangers on an anonymous forum.

    Revenue would have more information than us. Based on the information you gave us I stand by my response.


  • Advertisement
  • Options
    #7
    GerardKeating
    Registered Users Posts: 7,564 ✭✭✭GerardKeating


    tapper wrote: »
    After receiving your attempt at helpful advice I decided to contact Revenue and a few of the major banks. It would seem I am indeed a First time buyer both for mortgage purposes and for mortgage interest relief purposes. Perhaps next time you should only advise people on your particular area of expertise, if you have one.

    You might be a first time buyer for mortgage relief purposes, but are you a first time buyer with respect to Stamp duty, assuming that is relevant for your pending house purchase .


  • Options
    #8
    hmmm
    Registered Users Posts: 11,205 ✭✭✭✭hmmm


    tapper wrote: »
    After receiving your attempt at helpful advice I decided to contact Revenue and a few of the major banks. It would seem I am indeed a First time buyer both for mortgage purposes and for mortgage interest relief purposes. Perhaps next time you should only advise people on your particular area of expertise, if you have one.
    The advice on here is only as good as the amount you pay for it. It shouldn't matter anyway as someone with your attitude won't be getting any more free advice.


  • Options
    #9
    tapper
    Users Awaiting Email Confirmation Posts: 34 ✭tapper


    amdublin wrote: »
    Who ever said we were experts on anything :confused:

    You spoke to Revenue. Great. Probably should have done this straightaway rather than relying on strangers on an anonymous forum.

    Revenue would have more information than us. Based on the information you gave us I stand by my response.

    Your attitude in your reply was less than civil and rather obnoxious in fact. I believe your exact words were " no two ways about it". That's a fairly misinformed opinion which you presented with a false sense of superiority. I can see though that your insistence on standing by your response puts you in the unfortunate group of people that only use Boards to try to feel better about themselves by replying in a condescending manner to questions which they really have no accurate answer for.

    It's unfortunate that this website has a lot of people with a bad attitude to people seeking advice. There are a lot of genuine questions being asked here, it is not by any means a definitive answer but is suitable for a quick response or guidance, ideally from someone who knows what they are talking about.


  • Options
    #10
    SteoL
    Closed Accounts Posts: 1,545 ✭✭✭SteoL


    tapper wrote: »
    Your attitude in your reply was less than civil and rather obnoxious in fact. I believe your exact words were " no two ways about it". That's a fairly misinformed opinion which you presented with a false sense of superiority. I can see though that your insistence on standing by your response puts you in the unfortunate group of people that only use Boards to try to feel better about themselves by replying in a condescending manner to questions which they really have no accurate answer for.

    It's unfortunate that this website has a lot of people with a bad attitude to people seeking advice. There are a lot of genuine questions being asked here, it is not by any means a definitive answer but is suitable for a quick response or guidance, ideally from someone who knows what they are talking about.

    To be fair, if it's Financial advice you're after why not hire and pay a financial advisor who is an expert in what you're after rather than joining boards to seek financial advice for free (and then bitch when people pull you up on it) ?


  • Options
    #11
    tapper
    Users Awaiting Email Confirmation Posts: 34 ✭tapper


    SteoL wrote: »
    To be fair, if it's Financial advice you're after why not hire and pay a financial advisor who is an expert in what you're after rather than joining boards to seek financial advice for free (and then bitch when people pull you up on it) ?

    I didn't bitch cause I was pulled up on anything. The advise i was ardently given was incorrect. All I expected was that I would only receive replies from people who knew what they were talking about. I don't post replies on topics I know nothing about. Clearly I don't accept that any advice given here is correct as I checked with the correct offices afterwards but I thought someone might have had a similar situation and may be able to advise me on this at a time when I was unable to contact banks and revenue.

    My current point is why give such a forceful answer when you really don't know the answer at all. Just don't reply in that case. Which is what I would see as being pretty obvious but clearly, for some, it isn't quite so obvious.


  • Advertisement
  • Options
    #12
    dearg lady
    Closed Accounts Posts: 2,091 ✭✭✭dearg lady


    According to finfacts you wouldn't be considered a ftb...if I'm reading it right... http://www.finfacts.ie/fincentre/firsttime.htm

    oh wait, maybe it's to do with the fact that your other property is an investment property, oops!


  • Options
    #13
    tapper
    Users Awaiting Email Confirmation Posts: 34 ✭tapper


    dearg lady wrote: »
    According to finfacts you wouldn't be considered a ftb...if I'm reading it right... http://www.finfacts.ie/fincentre/firsttime.htm

    oh wait, maybe it's to do with the fact that your other property is an investment property, oops!

    Yip! You got it!


  • Options
    #14
    BuffyBot
    Moderators, Motoring & Transport Moderators Posts: 24,924 Mod ✭✭✭✭BuffyBot


    Tapper, please drop the attitude. Everyone, get back on topic.


Advertisement