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Am I a first time buyer?

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  • 28-01-2015 12:02pm
    #1
    Andiewoo
    Registered Users Posts: 45 ✭


    6years ago I got a mortgage with an ex partner. Within in that year the relationship broke up and I sigbed the house over to him and I now have no ties with it and am renting with my husband.

    With the new mortgage rules am I now classed as an owner/occupier even though I have no house? Will myself and my husband have to have the 20% deposit now?

    I'm guessing we are not first time buyers (even though he's never bought a house)
    Because we are married!!
    Can anyone help?


Comments

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    #2
    Rob Thomas
    Registered Users Posts: 488 ✭✭Rob Thomas


    You're not a first time buyer but your husband is.

    Should you wish to make the most of the new rules and the tax benefits you might wish to obtain a joint mortgage with the property registered solely in the name of your husband. You'll need to sign a deed of waiver/postponement for the Bank and you will need your solicitor to arrange appropriate documentation to make sure your interests are protected in the event of the end of the marriage or death but it's not overly complicated.

    I've done similar for essentially the same purpose without any difficulty, albeit the ownership issue was different to your case.


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    #3
    delahuntv
    Closed Accounts Posts: 1,532 ✭✭✭delahuntv


    I think this is in a totally wrong forum - it hardly can be described as a rip off.

    Considering the banks now WANT to lend, they will use what is the most suitable category for their own purposes. Therefore expect most will regard you, assuming its a joint ortgage, as first time buyers.


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    #4
    the groutch
    Closed Accounts Posts: 16,096 ✭✭✭✭the groutch


    I stand to be corrected, but they might not be able to consider the OP's income for the mortgage, and even a deposit coming from a joint account could be an issue.


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    #5
    millionmystery
    Registered Users Posts: 53 ✭✭millionmystery


    Afraid not, there's n article in The Times today which says that even if your partner has never owned a house, if you apply together (joint application) you will be classed as second time buyer :(


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