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
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Am I a first time buyer?

  • 18-01-2017 9:58pm
    #1
    Registered Users, Registered Users 2 Posts: 49


    If I bought an apartment with cash a few years ago (no bank) and sold it....

    Now i'm going to the bank for a small mortgage.

    Am I a first time buyer? I'm not sure if the definition of a first time buyer is "first time owning a property" or "first time applying for a loan to purchase a property"


Comments

  • Closed Accounts Posts: 13,420 ✭✭✭✭athtrasna


    need-it wrote: »
    If I bought an apartment with cash a few years ago (no bank) and sold it....

    Now i'm going to the bank for a small mortgage.

    Am I a first time buyer? I'm not sure if the definition of a first time buyer is "first time owning a property" or "first time applying for a loan to purchase a property"

    Yes in mortgage terms but not in first time buyer incentive terms afaik


  • Registered Users, Registered Users 2 Posts: 24,560 ✭✭✭✭lawred2


    need-it wrote: »
    If I bought an apartment with cash a few years ago (no bank) and sold it....

    Now i'm going to the bank for a small mortgage.

    Am I a first time buyer? I'm not sure if the definition of a first time buyer is "first time owning a property" or "first time applying for a loan to purchase a property"

    You previously owned so no you're not a first time buyer


  • Registered Users, Registered Users 2 Posts: 49 need-it


    athtrasna wrote: »
    Yes in mortgage terms but not in first time buyer incentive terms afaik

    Thank you. I'm only interested from a mortgage application POV


  • Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,690 Mod ✭✭✭✭Stheno


    need-it wrote: »
    Thank you. I'm only interested from a mortgage application POV

    So you are not looking to get the new tax rebate, but rather to pay a FTB deposit of 10% rather than 20 as a second time owner?


  • Registered Users, Registered Users 2 Posts: 346 ✭✭Ayuntamiento


    You've never held a mortgage before so you're a first time buyer in terms of the % deposit required by the bank.


  • Advertisement
  • Registered Users, Registered Users 2 Posts: 21 BigPineapple


    This is an interesting question. What if you were gifted a fully paid for house from your parents (disregarding CGT for the moment)?

    Does that count as First Time Buyer from the perspective of (1) Mortgage application [Seems like it is] and (2) Help To Buy?


Advertisement