FTB buying with non-FTB ?

Gaz

Hi all,

Can someone tell me how it works or what is the recommended approach when applying for a mortgage where one person is a FTB but the other is not.
My partner is divorced with no outstanding debt/mortgage and we would like to purchase our own home in the next 18months or so.
However with the new rules I am not sure how this would effect us.

Thanks

Kinet1c

In the old stamp duty system which was lower for FTB, a joint mortgage with 1 FTB and other a non-FTB, would render the people liable for the stamp duty at the higher rate. ie. no allowance for FTB. I'm not saying this will be the same for the new CB regulations but just showing how it used to be applied to old stamp duty rates.

The Niece

The Irish Times have explained it here...

http://www.irishtimes.com/business/economy/what-will-the-new-central-bank-mortgage-regime-mean-to-you-1.2082519

FTB buying with a non-FTB is classed as a non-FTB

TrishSimon

The Niece wrote: »

The Irish Times have explained it here...

http://www.irishtimes.com/business/economy/what-will-the-new-central-bank-mortgage-regime-mean-to-you-1.2082519

FTB buying with a non-FTB is classed as a non-FTB

This is my problem I am a non FTB with a small mortgage on a one bed apt I dont make profit on it the rent covers the costs I met my husband in Sept 2008 I had already put the deposit down in the July 2008 and the purchase went through in Feb 2009 via the affordable housing scheme, husband is a FTB but now as it seems he will be classed as a non FTB